Variety

U.S. entertainment-industry trade press, center-left-leaning on politics

Background

Variety was founded in New York in 1905 by Sime Silverman as a weekly vaudeville and show-business paper. It added Daily Variety in Los Angeles in 1933 and became the main trade paper for Hollywood deals, box office and awards. In later decades it passed through corporate owners including Cahners, which later became part of Reed Elsevier. Reed sold it in October 2012 to Jay Penske's Penske Media Corporation, reportedly for about $25 million. Under PMC it expanded its digital operation, brought in a paywall and added international editions. It now sits alongside PMC's Rolling Stone, Deadline, Billboard and The Hollywood Reporter, and PMC also bought the Golden Globes in 2023, which led to an antitrust suit by the Hollywood Foreign Press Association in 2026. Critics sometimes say that, like most trades, it is close to the studios and talent agencies it covers and relies on industry access and advertising. PMC has also sued Google over ad-market practices and AI search summaries, and a federal judge dismissed the AI-related suit in autumn 2026. Variety's news reporting is generally regarded as accurate and straightforward, with a mildly liberal tone typical of the entertainment industry. Its coverage of the current administration is mostly business-oriented rather than overtly partisan.

Sources

1. Variety – About Us
2. Variety (magazine) – Wikipedia
3. Penske Media Corporation – Wikiwand
4. Hollywood Foreign Press Association Sues Penske Media Corporation Over Golden Globes Purchase (Variety)
5. Google Wins Dismissal Of Penske Media, Chegg AI Lawsuits (Forbes)

Profile compiled 2026-10-15; refreshed when ownership, funding, or the administration changes.

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