New Variety owner Jay Penske won kudos from his new employees at
Variety by promising to take down the paper's online paywall, continue
the industry trade's presence in print and invest in its newsroom.
In his first address to Variety's approximately 120 employees late Wednesday afternoon, the head of Penske Media Corp., which acquired the venerable Hollywood trade paper
on Tuesday for about $25 million, made a largely positive impression on
the staff, according to people who attended but requested anonymity
because the meeting was private.
Many Variety reporters and
editors have been frustrated that their content is less read online than
that of competitors such as the Hollywood Reporter and Penske-owned
Deadline, in part because it is only available to paying subscribers.
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