| LOS ANGELES, March 26
LOS ANGELES, March 26 Hollywood trade magazine
Variety launches a new era on Tuesday with the publication of
its first weekly glossy magazine focused on in-depth, analytical
stories aimed squarely at entertainment industry professionals.
A week after 80 years of daily publication ceased following
a change in ownership, the new editors at Variety say the
magazine will shine a "laser focus" on the business needs of
Hollywood rather than moving toward the more celebrity-filled
content seen on other entertainment outlets.
"Nobody is doing the smart, analytical, in-depth pieces, and
data-driven product where people will come away from reading
knowing something that is important about their business," said
Cynthia Littleton, one of Variety's three editors-in-chief.
"That is completely missing from the landscape and that is
the void that we will fill with our new print weekly," Littleton
Daily Variety, regarded as the bible of Hollywood for its
movie and TV industry news, published its last daily printed
edition on March 19, ending an 80-year-old tradition.
The business was sold last year to online publisher Jay
Penske and private equity firm Third Point LLC. After
re-launching the Variety.com website in March and ending its
paywall, the first issue of the weekly magazine is published on
The more than 100-page magazine features a cover story about
the business priorities and personality of new Warner Bros. CEO
Kevin Tsujihara, who gave Variety extensive access in his first
few weeks on the job. Warner Bros. is a unit of Time Warner Inc
Variety also has an in-depth look at the finances of
satellite radio company Sirius XM, and the fierce
battle between TV companies, wireless companies and the Federal
Communications Commission (FCC) over the auctioning of spectrum
that is meant to free up the airwaves for better wireless
Andrew Wallenstein, who with Claudia Eller completes the
editor-in-chief trio, said the revamped Variety plans to spend
more time looking at the intersection of entertainment and
"This is a tremendous time for the entertainment business
when you think about companies from Google to Apple to Netflix
and how they are transforming Hollywood, and we are going to
double down on that," Wallenstein said.
"In a marketplace that is intermingling the needs of the
consumer and trade audience, you are going to see (Variety put)
a laser focus on the industry and its information needs."
Lighter fare such as a partnership with satirical website
"Hollywood and Swine," and the social side of show business will
also be included in the magazine.
And the bizarre "slanguage", complete with phrases like
"laffer" (comedy), "helm" (direct) and "ankle" (leave) that has
confused and amused Variety readers for years, will remain.
"We are going to be boffo until the day we stop. That
slanguage is a big part of our heritage....We will never ankle
out slanguage," said Littleton.