Southern California breaking news and trends

Variety is sold: SoCal yawns. But what about Nikki?

Penske Media Corp.

Jay Penske, CEO of the digital media company Penske Media Corp. who owns the IndyCar racing team Dragon Racing, web site Deadline.com, and now Variety.

Deadline.com

Deadline Editor Nikki Finke


Variety, the 107-year-old Hollywood trade paper, was sold Tuesday to the Penske Media Corp. for reportedly $25 million, but very few seem to care about the deal.

The most intriguing question is whether or not Deadline.com firebrand Nikki Finke will have any power over the old trade mag.  

PMC CEO Jay Penske told the L.A. Times today that he has no plans to change the good thing he has going with the site PMC bought in 2009. "What Nikki has architected at Deadline is simply amazing," Penske said to the Times. "To alter or change the chemistry of Deadline would be in our opinion a huge mistake."

But others think it would be a waste not to let the reclusive editor have a chance running Variety in the same way that Tina Brown became Editor-in-Chief of Newsweek when the website she was running, The Daily Beast, merged with the iconic magazine.

Read More...