Variety For Sale? Publisher Says ‘NONSENSE’

News Corp’s The Daily says that Variety owner Reed Elsevier is looking to sell, and has talked to Jay Penske, who owns Deadline.

“He is working on a deal, and the numbers seem consistent based on online and print and profits,” an anonymous source told the Daily.

Variety Group president Neil Stiles: “Nonsense, and you can quote me.”

And Stiles again, to FOLIO this time: “I heard this rumor, too. Not sure how to respond politely so NONSENSE is the best I can come up with. Variety is categorically not for sale.”

Reed Elsevier put Variety on the block in 2008 as part of a package of 65 magazines. The package didn’t sell, so Reed split up the magazines and sold many of them piecemeal. Variety is just one of four magazines Reed held.

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