Starting next month, The Hollywood Reporter is scrapping its traditional five-times-a-week format and going weekly. It’s also going fancypants glossy.

The New York Times spoke with THR chief Richard Beckman, who explains:

The Reporter wants to transform the way it does business but also change the model that has allowed the Hollywood trade publications to exist for nearly a century. Heavily dependent on advertising from the entertainment industry, publications like Variety and The Reporter have long provided favorable coverage of the films and studios that pay their bills. Mr. Beckman is gunning for a larger slice of the advertising market: beauty, fashion, consumer electronics and liquor, for starters.

“We’re not going to be a product that purely strokes the industry because the industry won’t respect that,” said Mr. Beckman, a former top executive with Conde Nast who is known as Mad Dog.

From a business perspective the move makes complete sense. One gets the impression, however, that it’s only a matter of time before THR turns into a bourgeois lifestyle mag–selling the Hollywood lifestyle, not just the entertainment industry, to the world.