[UPDATED: With Hearst press release confirming the move at the bottom.]

Neeraj Khemlani (pictured here), Yahoo’s general manager and executive editor of news, is set to leave his job–right in the midst of a major restructuring of its media unit–to work at Hearst Corp.

Khemlani’s departure was announced to his staff at Yahoo (YHOO) today and confirmed by the press release from Hearst below.

While Khemlani was in line to head one of the three main prongs of the new content organization, running a possible network programming arm, sources inside and outside Yahoo said he instead has opted to take a job as VP and Special Assistant to the CEO for Digital Media at Hearst.

Khemlani is not leaving due to the upcoming changes at Yahoo, said sources, but because he got a “compelling” offer to work for a more traditional media company in a range of businesses, from newspapers and magazines to broadcast, helping turbocharge their digital efforts.

Khemlani, who came to Yahoo from a long stint as a producer at the television news show “60 Minutes,” will be reporting to the privately-held media company’s vice chairman and CEO, Frank Bennack.

Khemlani, several sources said, told his bosses at Yahoo–U.S. Audience head Jeff Dossett and U.S. EVP Hilary Schneider–on Friday of his plans right when the pair were in the midst of planning a major shift in how media are managed and created at Yahoo.

At Hearst, he will be a resource for its many divisions, which all have their own digital operations, and he will be based in New York. (Khemlani currently has been working out of Yahoo’s media offices in Santa Monica, Calif.)

In a press release from Hearst, Bennack said: “Hearst’s major operating groups have all made substantial progress towards our corporate objective of fully participating in the digital transformation. The creation of this new position is designed to accelerate the progress through greater cooperation and synergy across divisional lines. Neeraj is uniquely equipped to help me and my colleagues realize that goal.”

Ironically, Hearst has a strong relationship with Yahoo, as a content partner.

UPDATE: In a Hearst press release Khemlani said: “I am delighted to join Hearst Corporation. We are witnessing the reemergence of content and media driving value in the new world and Hearst is uniquely positioned to realize that value across multiple digital platforms and distribution points. Remember, we’re only in the second inning of the Internet. Hearst, with all its assets and investments, expects to take a commanding lead by the seventh‐inning stretch.”

As BoomTown reported yesterday, the management of the media unit is about to be rejiggered dramatically.

It’s part of big changes coming for Yahoo, including an even more massive management reorganization that new Yahoo CEO Carol Bartz could announce this week, as this column reported on Friday.

Under a plan being considered, the media unit will be split into three parts: vertical programming, network programming and search monetization.

This comes after some other recent changes in the way media product development is done–moving to a centralized global structure, rather than residing in individual media units–which was also reported here last week.

Now, if they go through with current plans to reorganize the media unit, Schneider and Dossett must find another head of network programming.

Several inside sources said that vertical programming will probably roll up under current Sports GM Jimmy Pitaro. And Tim Mayer–who is now VP of search monetization and distribution–would probably remain in his job, with perhaps even more monetization duties added.

Here is the Hearst press release about Khemlani:

HEARST CORPORATION NAMES NEERAJ KHEMLANI VICE PRESIDENT & SPECIAL ASSISTANT TO CEO FOR DIGITAL MEDIA

Hearst Corporation (www.hearst.com) is one of the nation’s largest diversified media companies. Its major interests include ownership of 16 daily and 49 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle and Times Union; as well as interests in an additional 43 daily and 72 non‐daily newspapers owned by MediaNews Group, which include the Denver Post and Salt Lake Tribune; nearly 200 magazines around the world, including Good Housekeeping, Cosmopolitan and O, The Oprah Magazine; 29 television stations through Hearst‐Argyle Television (NYSE:HTV) which reach a combined 18% of U.S. viewers; ownership in leading cable networks, including Lifetime, A&E, History and ESPN; as well as business publishing, including a minority joint venture interest in Fitch Ratings; Internet businesses, television production, newspaper features distribution and real estate.

Besides the more massive management reorganization that new Yahoo CEO Carol Bartz could announce this week, as BoomTown reported on Friday, the Internet company’s powerful media arm might also see a drastic shift in management structure even sooner.

According to several sources inside the company, U.S. Audience SVP Jeff Dossett (pictured here) has been working on the changes for a while, part of an overall change in how Yahoo (YHOO) makes and delivers content. The new organization could be announced this week too.

Under a plan being considered, the media unit will be split into three parts: Vertical programming, network programming and search monetization.

It is not clear under this new set-up if Yahoo will keep its more traditional structure of having powerful general managers, each in charge of its big properties.

But that seems likely to be scaled back, at the very least, since the shift in management comes after some major recent changes in the way content is made, as was also reported here last week.

Already, the media group’s product development for all its major properties–such as News, Sports and Finance–is set to be moved to a central global product development organization at Yahoo’s HQ in Sunnyvale, Calif.

Until now, such development has been mostly done by individual media properties, many of which are located down south, in Santa Monica.

The argument for the shift posits that centralizing the product development of a Yahoo media offering drives efficiencies, saves money, eliminates redundancies and accelerates growth across the world.

Those who do not like the idea think it is wrong to separate the development of a product from the programming because the two are intricately dependent and need to be tweaked delicately.

Dossett will remain overall head of media efforts, but there is a lot of speculation inside the group about who will head the three new parts of media unit. But that is still being worked out by Dossett and his boss, U.S. head Hilary Schneider, and is still not decided.

But several inside sources said that vertical programming is probably a lock to roll up under current Sports GM Jimmy Pitaro.

Former “60 Minutes” producer and News GM Neeraj Khemlani seems be the most likely candidate to head network programming, but that is not yet complete.

And Tim Mayer–who is now VP of search monetization and distribution–would probably remain in his job, with perhaps even more monetization duties added.

About a month ago, BoomTown reported that MSN executive producer and general manager Jeff Dossett (pictured here) was contemplating joining Yahoo.

Microsoft (MSFT) released a statement that day saying Dossett was indeed stepping down from his MSN duties, as I had posted, but noted that he was staying put at the software giant.

Oops, it looks like I was right in my initial report: “The Secret Microsoft Invasion of Yahoo Continues: MSN GM Headed There Soon?”

Dossett has accepted a job as SVP, U.S. Audience at Yahoo, Yahoo (YHOO) said in a press release this afternoon.

“I am very excited about this new leadership opportunity at Yahoo,” wrote Dossett in an email to me. “Of course, I have great respect for my many friends and colleagues at Microsoft and I wish them well.”

But is the hire linked to my report earlier today of Yahoo Media Group SVP Scott Moore leaving?

You betcha, as Governor Sarah Palin says.

While the company had already been deep in conversations with Dossett for another job, as head of business development, management scrambled after Moore reportedly told Yahoo of his plans to leave a week ago.

After BoomTown this morning reported that Moore, as well as Yahoo News general manager Alan Warms, were departing later this week, Yahoo confirmed the departures this afternoon.

Dossett will report to Hilary Schneider, executive vice president of Yahoo U.S., and fill the role previously held by Moore, although the title is different. Yahoo said Moore was leaving “to pursue other opportunities.”

A Yahoo spokesman also said later about Warms:

“We’ve worked with Alan over the last couple of months on an orderly transition plan of his responsibilities over to Neeraj Khemlani, who will continue to lead Programming & Development for News & Information at Yahoo. We wish Alan much success in his future endeavors and know that Neeraj will continue driving Yahoo News to even greater success.”

Dossett will have presumably have purview over all that and more.

A longtime and experienced mountain climber, he has been one of the more senior digital execs at Microsoft.

The reason given for Dossett’s departure from Microsoft, announced internally in mid-September, was to also “pursue other opportunities” (I still love this phrase, as oily as it is.)

As I wrote then: “While the hire is not yet complete, that apparently means that he is likely going to rival and onetime Microsoft quarry Yahoo as a senior exec.”

It has all been an interesting digital-musical-chair trend, in fact. Also last month, another former Microsoft big shot, Joanne Bradford, started her job as Yahoo’s top U.S. ad sales exec.

Bradford came to Yahoo after a very short stint as national ad sales head at the trendy Los Angeles start-up, Spot Runner.

Previous to that, Bradford (pictured here) had been at Microsoft for many years, most recently as VP and chief media officer of MSN Media Network.

While at Microsoft, Jeff Dossett was a close colleague of Bradford, so his moving to Yahoo is probably not that much of a surprise.

Outgoing Yahoo Media Group SVP Moore, who has been at Yahoo since 2005, is another former Microsoft digital exec, where he worked all over the company.

In his job at MSN, Dossett was the lead for audience, content and programming strategy and execution in the U.S.

He had worked at the company since 1991, in a variety of sales and marketing jobs in Canada, and later worked on strategy and business development for MSN.

Dossett was also CEO of Carpoint, now MSN Autos, and was GM of its real estate arm.

He also took two years off from Microsoft in 2002 to climb the highest mountains on each of the seven continents, finally reaching the summit of Mount Everest in May of 2004.

Dossett reached the summit of Everest again for a second time this past May.

Here is Yahoo’s press release about his appointment in its entirety:

JEFF DOSSETT JOINS YAHOO! TO LEAD US AUDIENCE BUSINESSES

In 2002, Dossett took two years away from his career at Microsoft to pursue his passion for adventure with a goal to climb the highest mountain on each of the seven continents, known as the “Seven Summits.” Reaching the summit of Mount Everest on May 24, 2004, Dossett became the third Canadian in history to successfully complete the Seven Summits. On May 22nd, 2008, Jeff became the second Canadian in history to reach the summit Mount Everest for the second time. He serves on the Board of Advisors of VillageReach (www.villagereach.org), GOOD Worldwide Inc. (www.good.is), and Live Mocha (www.livemocha.com). Dossett holds a degree in business administration with honors from the Richard Ivey School of Business at the University of Western Ontario in Canada.