There’s a struggle going on in Hollywood right now between old and new media. Variety, the 107-year-old trade magazine, is not only having trouble finding a suitor, but has also come to the conclusion that its $40 million price tag may be too much.
The problem, like many traditional publishers trying to keep its heads above water, is that there are now many online-only trade publications, like Nikki Finke’s Deadline Hollywood, HollywoodLife.com and to a certain extent TMZ, who offer the same (and sometimes more exclusive) content that doesn’t reside behind a paywall. It’s the same story that’s playing out across industries. It’s hard to imagine that if you were to reinvent Variety today that you’d start with a print product.
Digital properties are more nimble than a weekly and trade publications are not immune to the changes in the media landscape. If Reed Elsevier wants to sell Variety, it needs to prove why a legacy media company can work in a digital world. And as the Post points out, dropping the price may be the only way out.
More in Media
From sidelines to spotlight: Esports events are putting creators center stage
Esports events’ embrace of content creators reflects advertisers’ changing priorities across both gaming and the wider culture. In the past, marketers viewed esports as one of the best ways to reach gamers. In 2025, brands are instead prioritizing creators in their outreach to audiences across demographics and interest areas, including gaming.
Condé Nast and Hearst strike Amazon AI licensing deals for Rufus
Condé Nast and Hearst have joined the New York Times in signing a licensing deal with Amazon for its AI-powered shopping assistant Rufus.
Media Briefing: AI payouts may be entering a new era
AI compensation is evolving — and new models, not just publisher demands, are driving the shift beyond flat-fee licensing.