Reed Elsevier to Hold on to Variety

Despite major revenue declines, a firesale of their other U.S. trades, and repeated attempts to sell the paper off, Anglo-Dutch publishing giant Reed Elsevier says they plan to hold on to Variety after all, says Folio Magazine, citing the company’s 2009 earnings report.

variety masthead.jpg

A Variety sale had appeared imminent, as this week alone its parent company sold off four magazines to LA-based Canon Communications: Electronic Design News (EDN), Design News, Test & Measurement World and Packaging Digest.

With company-wide advertising revenues down 21%, expect Reed to continue the firesale. But, for now at least, Variety is staying put.