Reed Business Information Puts Variety Up for Sale
Posted on March 23, 2012Reed Business Information (RBI) announced today that it has put Variety up for sale. RBI has been divesting itself of its business magazines over the past three years.
Mark Kelsey, CEO of RBI, said in a statement, "Variety is an iconic title serving the film and entertainment industry for more than 100 years. With RBI's increasing focus on data services, and the sale of our other US print magazines, it now makes sense for us to sell the business. Variety has an incredibly talented team who have successfully innovated and expanded the franchise in industry news and analysis. I have no doubt the business will continue to thrive under new ownership."
Variety is a highly respected daily print trade publication for Hollywood, but it is no longer the dominant source of information about the entertainment business. The L.A. Times notes that Variety has been hiding its content behind a pay wall, while its competitors offer similar content for free.