Reed Will Sell 'Variety'

  • March 23, 2012

Reed Business Information has placed the iconic trade magazine Variety on the block, reports The Wrap. The company stated: "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." The oldest of the Hollywood trades has suffered ad and circulation losses for years. At its height the trade was a huge cash cow -- earning nearly 40% profits in the 1990s, with annual revenues upwards of $60 million.

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