Wyatt takes on the role in March and will "lead on all commercial activities and digital operations, spearheading the strategic commercial direction" across the publisher. Shortlist Media owns free magazines ShortList and Stylist.
The publisher’s previous managing director, Karl Marsden, left last summer to join Contagious Communications as chief executive.
Wyatt will report to Ella Dolphin, chief executive at Shortlist Media, and join the media board of directors.
He joined CNN International in March 2014, after one year at Base79 as head of content. Before this, he was head of video at Reuters between 2008 and 2012.
Dolphin said: "The managing director, commercial role will be critical for us as we build on our success and develop the business for the future. Owen’s experience, track record of success and enthusiasm for Shortlist’s potential made him the perfect choice."