TVNewser FishbowlDC AgencySpy TVSpy LostRemote PRNewser SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

Report: TheWrap, Penske and Ron Burkle in Hunt for Variety

Ever since Daniel Frankel at PaidContent revealed that 11 entities were interested in looking at the Variety books, the race has been on among media watchers to identify authoritatively who those parties might be.

The New York Post today seems to have claimed these honors. Per a Page Six report:

Billionaire Ron Burkle is looking to further extend his influence in Hollywood by buying entertainment trade paper Variety, sources tell Page Six. Taking over Variety would continue supermarket magnate Burkle’s buying spree, which this year alone includes investments in industry hangout Soho House, BlackBook Media, Ryan Kavanaugh’s Relativity Media, concert-booking firm Artist Group International and UK agent Duncan Heath’s Independent Talent Group. He’s also an investor in numerous Harvey Weinstein films and Al Gore’s Current TV.

According to the Post’s unnamed sources, Burkle and a pair of Variety’s direct competitors – Nikki Finke parent company Penske Media Corporation and Sharon Waxman’s TheWrap – have been invited back to a “third round of bidding.” It’s not clear from the article whether any other bidders also remain. The item pegs the potential purchase price of the Hollywood trade as being in the high thirty-million range.

Previously on FishbowlLA:
Report: Eleven Potential Bidders Circling Variety

Mediabistro Course

Travel Writing

Travel WritingStarting September 23, learn how to turn your travel stories into published essays and articles! Taught by a former Vanity Fair staff writer, James Sturz will teach you how to report, interview, and find sources, discover story ideas and pitch them successfully, and understand what travel editors look for in a story. Register now!