A hard Deadline: Reed sells Variety
October 10, 2012
For years blogger Nikki Finke has exhibited great joy in taking Variety to task.
Now her site’s parent company has the task of turning Variety around. Penske Media, which owns Finke’s Deadline.com, purchased the struggling trade publication for the bargain price of $25 million from Reed Elsevier, which had tried several tactics to keep Variety afloat.
Over recent years it had put the publication behind a paywall online and changed the printing schedule, to little avail.
Sites like Deadline, which serves up Hollywood scoop online only, proved difficult to compete with, and Variety’s ad dollars continued to decline.
According to the early buzz, the paywall will come down, though Variety and Deadline will not be merging.
One intriguing possibility, floated by The New York Post’s Keith Kelly, is that former Us Weekly editor Bonnie Fuller, who currently edits Penske’s Hollywood Life site, will become Variety editor, mirroring a move made by another Us alumna, Janice Min, who now edits the trade The Hollywood Reporter, another Deadline rival.
Variety wasn’t the only publication sold cheap this week. Media General offloaded its lone remaining paper, the Tampa Tribune, earlier this week for $9.5 million.
The Revolution Capital Group purchased the Tribune, its first newspaper. It marks the first time in Media General’s 150-year history that it will not own a paper.
Earlier this year Media General sold the majority of its papers to Warren Buffett’s Berkshire Hathaway.
Tags: berkshire hathaway, bonnie fuller, deadline.com, Hollywood, Hollywood Life, keith kelly, media general, newspapers, nikki finke, online, paywall, Penske Media, Reed Elsevier, tampa tribune, this week, trades, Us Weekly, variety
A strong sendoff for NBC’s ‘Parenthood’
Readers: It will be a record Super Bowl
The rest of the best of the Super Bowl
‘Kids Baking Championship,’ what fun
Rachel, the stress from work is too much
Tell us your thoughts on Hispanic media
Best tube bets this weekend
Cable overnights: ‘Americans’ dips slightly
New from Snapchat, meet Discover
Survey: Native advertising will soar this year
Coming soon: Nick without the cable bill
Disney Junior planning Latin-inspired princess
‘Empire’ holds steady in fourth week
- Jeremy Gibney and Rob Esmundo join San Francisco agency Eleven
- Paul Pastor becomes EVP of network strategy at Discovery Channel
- Amy Hyland and Justin Nesci rise at Nickelodeon
- Pete Rumpel becomes chief sales officer at ABI Research
- Lincoln Lopez becomes VP and GM of social media at Univision
- Jim Lawson becomes regional manager at iHeartMedia
- John Reiss rises to executive producer at NBC's 'Meet the Press'
- Roberto Ruiz becomes news anchor at Azteca America
- Tyler James Williams joins CBS's 'Criminal Minds' spinoff
This week’s cable ratings
This month’s new media traffic data
This week’s broadcast ratings
This week’s top movies, songs and books
This week’s daypart ratings
This week’s younger viewer ratings
Looking to fill a media planner job in Chicago
Senior media connections planner/buyer in Columbus
Assistant media buyer opening in San Francisco
Digital media buyer job in Minneapolis
Programmatic media planner wanted in New York