"Jim Beloyianis, president of Katz Television Group, and Michael Spiesman, president of Katz’s Continental Television Sales, are gone in a major shakeup at the national rep firm, a source confirmed Friday afternoon," reports our good friend Harry Jessell at TVNewsCheck.

The article continues, "Beloyianis is being replaced by Leo MacCourtney and Craig Broitman, who will be co-presidents in the new order."

No reason was given for the shakeup.

Beloyianis joined Katz in 1973 from Grey Advertising. He had been president of the TV group since 1994.

Spiesman joined Katz in 1982 and had been in his current position since 1999.