Will Penske eventually put both brands under one bigger roof? I still see an advantage to dividing the two entities so that Finke's Deadline is an online breaking news operation while Variety functions as a softer print trade revenue producer, complete with Pete Hammond's awards mongering. Edited nuggets from the online content could add value to a weekly print edition.
UPDATE: Variety assets that Penske is buying include a massive ad sales operation and international news and reviewers around the world. What he will presuambly let go is the print daily, which would cause layoffs, although many would stay on board to manage a weekly edition. Steve Gaydos on the special features side --which is the source of Variety's millions--could be a pivotal player in the new order.