Variety, recently purchased by Penske Media, announced roughly 20 job cuts mostly on the business, not editorial side (no reporters or editors were affected), along with plans to cut
frequency of its daily edition, though "it's not yet known by how much," writesL.A. Times' Ben Fritz.
Meanwhile Variety's competitor Hollywood Reporter is proceeding with its plans to become a luxury lifestyle as well as trade pub, attempting to court cosmetics, fashion and home design advertisers with corresponding editorial and promotions. Most recently, there's the cover story "Hollywood’s Top 25 Beauty Moments of 2012,” which "examines the beauty looks that have had the biggest impacts so far this year on the red carpet, and in television shows and movies."