owner Penske Media acquires Variety

Penske Media, owner of the entertainment-industry website, has acquired its venerable print competitor Variety. The $25 million deal comes with a pledge from Penske to keep Variety in print in some form, although it's unclear whether that means weekly or daily or another frequency of publication. Variety's online site has about 320,000 monthly uniques, a small fraction of Deadline's 2.4 million.

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