Friday, October 12, 2012

Show biz mag Variety's new owner impresses employees

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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