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
ABC wins first night of November sweeps
Game 7 smacks a home run for Fox
A buyer’s primer on out of home measurement
‘Olive Kitteridge,’ fine tale brilliantly told
Rachel, talk to me about networking
The new frontier: Digital out of home
Best tube bets this weekend
So, who will win the November sweeps?
The complete TV schedule for election night
‘Sleepy Hollow’ scares up some buzz with Lyft
NBC Universal renews Meredith Vieira’s show
Native advertising gives NY Times a lift
NBC keeps on riding the Breeder’s Cup
- Jessie McGuire becomes U.S. strategy director at Elmwood
- Greg McAlinden becomes creative director at ODD
- Nick Ascheim rises and Shaun Hekking joins at BBC Worldwide
- Jonathan Hills becomes VP of digital media at Bravo Media
- Debbie Reichig becomes SVP of sales research at Twentieth TV
- Isaac Payam Ahdout becomes SVP of engineering at Tapad
- Fred Melamed joins Showtime's 'House of Lies'
- Lily Rabe appearing on FX's 'American Horror Story'
- 'Sons of Anarchy' cast guesting on TBS's 'Conan'
- Joel McHale remaining host of E!’s ‘The Soup’
This week’s cable ratings
This week’s broadcast ratings
This week’s top movies, songs and books
This week’s daypart ratings
This month’s new media traffic data
This week’s younger viewer ratings
Media buyer wanted in Las Vegas
Junior media buyer opening in Venice, California
Media freelancer available for all markets
Media buyer job in Syracuse
Assistant media planner/buyer wanted in Austin