Variety Media, LLC

Overview

Variety Media, LLC is the corporate entity that publishes Variety, an entertainment industry trade publication founded in 1905.

Ownership

Variety is owned by Penske Media Corporation (PMC), a privately held media and information-services company. PMC acquired Variety, including the weekly magazine, Daily Variety, and Variety.com, from Reed Elsevier in October 2012 for approximately $25 million, with financial backing from the hedge fund Third Point LLC.

History

Founded in 1905 by Sime Silverman, Variety was acquired by Penske Media Corporation in 2012. Under PMC ownership, Variety's paywall was removed in March 2013, and the print edition Daily Variety ceased publication after its final issue on March 19, 2013.

Leadership

• Jay Penske is chairman and chief executive officer of Penske Media Corporation.

Location and contact info

Website
https://variety.com