Report: Variety’s New Owner is… Avenue Capital
So it looks as if it’s not going to be Ron Burkle after all.
According to the New York Post, Variety parent Reed Elsevier has accepted a formal bid for the trade publication. The winning party is a billionaire, but not the one who had recently been touted, partly because Burkle reportedly wasn’t willing to go high enough:
New York billionaire Marc Lasry’s Avenue Capital has emerged as the front-runner to take control of Hollywood trade Variety, The Post has learned.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in