It looks like it is jump ship time at Crain Communications.

Advertising Age Editor Jonah Bloom has resigned to become CEO and editor-in-chief at Breaking News, a digital blog network that publishes Above the Law, DealBreaker, Going Concern and Fashionista.

“I love Ad Age, but I’ve been covering the evolution of the media business for a while now and thinking that there is a pretty big opportunity to create a new type of trade media company based around digital properties, and I think Breaking Media can be that,” Bloom said.

The news comes on the same day Greg David, founder of Crain’s New York Business, is exiting the company. He had already been booted upstairs and replaced as day-to-day editor by Xana Antunes.

Said David in a mass email yesterday, “As many of you know, I have resigned as editorial director of Crain’s to become the director of the business and economics program at the CUNY Graduate School of Journalism. I have been teaching there for three years and it is an exciting opportunity.”

Abbey Klaasen, the digital editor, will take over the editing job that Bloom has held for the past five years.

Breakning Media was founded by Carter Burden, an entreprenuer who is currently managing director of Darkstar Capital Group.