Variety to Drop Daily Print Edition

8:46 AM PST 02/26/2013 by Jordan Zakarin
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The 108-year-old trade, bought last year by Penske Media, will keep a weekly edition and drop its online paywall.

Variety, the long-running entertainment trade publication, will cease production of its daily print edition next month.

The newspaper, which was bought by Penske Media last fall for about $25 million, will print its last daily broadsheet on March 18. The organization will keep its weekly magazine and will shift it from a weekend publication to Tuesdays. Additionally, March 1 will see the full dismantling of the paywall on its website, which was installed in 2009. The site will be re-launched with a new design. 

Variety first launched in 1905 to cover the New York vaudeville scene and opened its Hollywood branch in 1933.

The publication also announced that it had named three new editors-in-chief, veteran journalists Claudia Eller, Cynthia Littleton and Andrew Wallenstein. The most recent EIC, Tim Gray, will remain "in a leadership role," the company said in a statement.

Penske Media is owned by racing heir Jay Penske, who also owns several other industry websites, including TVLine.com and Deadline.com. The company recently installed Michelle Sobrino as Variety's publisher.

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