Jay Penske, the new owner of the venerable trade publication Variety, laid out his vision for staffers during a visit Wednesday to Variety’s L.A. headquarters, Deadline.com reports.
“According to those present, the gist of what Penske told the assembled group about Variety was that some things were going to stay the same and some things were going to change,” the piece reports. “His most important announcement was that Variety’s pay wall on the media outlet’s website will be coming down so that more than a small group of subscribers can consume its content.”
Penske Media Corp. closed the deal earlier this week, as previously reported, adding Variety to a stable that includes Deadline.com, TVLine, MovieLine, HollywoodLife, BGR and ENTV.
Penske said during his town hall meeting with staffers that Variety’s print editions will continue for the foreseeable future, according to the Deadline report. He also said “he plans to invest more in Variety’s digital platform and expand its editorial reach,” the piece reports.
The Deadline.com report also adds this intriguing note: “A Deadline reporter arriving to cover the Variety town hall wound up escorted from the building by security before it began.”
Please click here to read an analysis of Penske’s Variety purchase by TVWeek Open Mic blogger Chuck Ross.