Reed Business Information (RBI) announced Friday (3/23) that it is seeking to sell Variety, the century-old showbiz magazine. RBI had previously sold off its other US business magazines.
“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.”
“For more than 100 years, Variety has been the leading source of information and analysis for the entertainment industry. It continues to hold that position, and with its talented staff and far-reaching relationships, Variety is at the heart of the industry,” said a statement from RBI CEO Mark Kelsey.
Reed Elsevier had tried and failed to sell all of RBI in 2009. It sold all of the US media trade publications except for Variety to NewBay Media in 2010.