Variety For Sale! (Because It Can’t Compete With Deadline Hollywood)

I don’t want to start any rumors that Deadline Hollywood is going to buy Variety. But I am curious what the square footage is of Variety President Neil Stile’s office… That Reed Business Information today announced it is beginning a process to sell Variety doesn’t come as a surprise to me. In fact, for the past year, I’ve been predicting it would go on the block in April 2012 based on my sources.’ accurate information. (Reed was merely waiting until the end of Oscar season and its “For Your Consideration’ ad revenue.) This follows the divestment by RBI of its other US business magazines over the past three years. Problem is, the last time Reed put Variety up for sale, the price tag was unrealistic. And now Variety is worth far less. Reed can see that Variety’s best days are behind it: that awards advertising has slumped, that its paywall isn’t the panacea now that its print edition is too thin and its online posting not a priority, and its showbiz reporting increasingly inaccurate. (Just today, Variety wrongly claimed that The Hunger Games‘ midnight shows grossed $25M when the real number was $19.75M.) Why, just the other month, I was having a conversation with Neil Stiles where he admitted to me that a recent survey conducted by Variety showed that Deadline was the most consumed online trade by the entertainment industry: way more than Variety, and way way more than The Hollywood Reporter. (Stiles also confirmed to me he’s working without a contract but denies rumors that he’s on ... Read More »

Source: http://www.deadline.com/2012/03/variety-for-sale-because-it-cant-compete-with-deadline-hollywood/

Desiree Dymond Diane Kruger Dido Diora Baird Dita Von Teese Dominique Swain