By Osagie Alonge
Reed Business Information (RBI), the base of the daily entertainment news journal Variety Magazine announced on Friday march 23, 2012 that it has started the process of selling the iconic entertainment news publication.
Variety, the American weekly entertainment-trade magazine was founded in New York City, in 1905 by Sime Silverman, following the rise of the importance of the motion-picture industry.
RBI CEO Mark Kelsey said, ‘For more than 100 years, Variety has been the leading source of information and analysis for the entertainment industry. It continues to hold that position, and with its talented staff and far-reaching relationships, is at the heart of the industry.‘
Kelsey said that it was time for the parent company to sell Variety as RBI has increased its focus on data services.
It was earlier rumoured in April 2011 that RBI was interested in selling Variety but the Variety Group CEO as at that time, Neil Stiles called the rumour ‘nonsense’.
