Take Two for October 10, 2012

The future of Variety after its $25 million sale to Penske Media Corp


The 107-year-old Hollywood trade magazine has finally been sold, to the publisher who owns competing Deadline.com. The reported $25-million price tag has been called a "fire sale."

If the words "feevee," "cleffer" and "chopsocky" mean anything to you, there's a good chance you read Variety.

The show biz trade publication has a new owner, Penske Media Corporation, which bought Variety yesterday for $25 million.

For more on the sale and what it means for the trade rag's future, we're joined by Brooks Barnes. He's a media reporter for the New York Times.

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