Leading 'Variety' Bidder Co-Owns 'National Enquirer'

A late entrant into the bidding for Variety is now in the lead: hedge fund Avenue Capital, co-owner of American Media, which is the parent of the National Enquirer, according to an anonymous source cited by Ben Fritz. The former leading candidate to own the iconic Hollywood trade, billionaire Ron Burkle, "has recently fallen behind other interested parties," writes Fritz.

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Tags: m&a, newspapers
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