|Variety (magazine) (Photo credit: Wikipedia)|
Reed Elsevier in March offered the troubled Hollywood trade paper for sale. A year ago, Detroit Internet media mogul Jay Penske was rumored to be in line to acquire Variety (see "TUOL" post 4/29/11). The Post story reports Variety's price tag could range from $10 million to $30 million.
Open Gate Capital apparently has pulled out of the running to acquire the TV Guide cable channel from the Lionsgate movie studio and co-owner One Equity Partners. The Post article suggests Discovery Communications may have an interest in buying the TV Guide Channel.
Check your listings for updates on this story.