Variety, Hollywood’s oldest entertainment industry trade publication (107-years-old), has been put up for sale.
The move comes as Variety has lost its standing as Hollywood’s dominant trade newspaper amid heated competition from online-only publications Deadline and the Wrap, as well as its traditional competitor, the Hollywood Reporter. Long seen as Variety’s also-ran competitor, the Reporter relaunched in late 2010 under new owners as a glossy weekly magazine that covers breaking daily news on its website.
Daily Variety is the only remaining daily print publication exclusively covering show business and still the best known around the world.
“Variety is not just a brand, it’s a trophy brand, and you might find someone overpaying for that reason,”
…a sales price would probably be around $50 million.
Read the full article to learn how the Variety paywall failed.
// Photo via 416 Style