The Hollywood Reporter has a new boss.

Less than a month after Matthew Belloni stepped down as editorial director, Valence Media has named Nekesa Mumbi Moody, the global entertainment and lifestyles editor for The Associated Press, as the new chief of the Hollywood trade paper.

Ms. Moody will move to Los Angeles to helm a recently gutted operation, where a dozen journalists lost their jobs in the wake of Mr. Belloni’s departure. The Hollywood Reporter’s publisher, Lynne Segall, and the veteran film critic Todd McCarthy were among those laid off as Valence Media, the publication’s parent company, tried to balance a budget sheet that was reportedly losing $15 million annually.

Run by the Media Rights Capital founders Modi Wiczyk and Asif Satchu, Valence has now laid off about 30 percent of its staff across all publications, including Billboard and Vibe. The two executives, who said they would stop taking a salary, also put in place a hiring freeze and salary cuts for those making more than $100,000 per year.

The departure of Mr. Belloni, The Hollywood Reporter’s chief for almost four years, came as a shock to staff. He had disagreed with Valence Media over coverage of the entertainment industry and was reluctant to skew reporting in favor of the company’s other operations, including MRC, which financed and produced films and TV series like “Knives Out” and Netflix’s “Ozark.”