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Thompson on Hollywood

Penske Buys Variety for $25 Million UPDATED

Well, the early reports are true. After seven months of negotiations, Penske Media Corp., backed by hedge fund Third Point, has won 107-year-old trade paper Variety for $25 million. Just months ago Variety was thought to be worth $50 mlllion, which was still substantially lower than its pre-recession peak value. Jay Penske, 33, outbid New York Hedge Fund Avenue Capitol and supermarket mogul Ron Burkle.
  • By Anne Thompson
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  • October 9, 2012 12:14 PM
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Video Clip: Ben Stiller Talks About His 'New Yorker' Profile

During last week's The New Yorker Festival 2012, Ben Stiller and Letter from California columnist Tad Friend talked backstage about the magazine's recent profile of the actor, comedian, writer and director (clip below). They got along, apparently, although both mentioned nursing migraines after a four to five hour interview.
  • By Maggie Lange
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  • October 8, 2012 1:21 PM
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Gina McIntyre Takes Over as Editor of LAT's Hero Complex Blog

LAT deputy film editor and genre buff Gina McIntyre, editor and contributor on departing staff writer Geoff Boucher's The Hero Complex, is officially taking over the blog. Boucher was lured away by EW.
  • By Anne Thompson
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  • October 1, 2012 8:18 PM
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  • 0 Comments
More: Media, Web/Tech

Fandango Hires EW Vet and Oscar Expert Dave Karger as Media Front Man

As the LA Times' Geoff Boucher joins ex-USA Today writer Anthony Breznican at weekly magazine EW, 17-year EW vet Dave Karger is moving on. He is heading away from print reporting to a career as a professional video pundit and media front man. He will now grow his media profile at NBCUniversal's Fandango as the online ticketseller's first "chief correspondent." The main lure is increased visibility across NBCUniversal's media outlets.
  • By Anne Thompson
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  • September 27, 2012 1:39 PM
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Media Watch: Daniel Frankel Leaves Entertainment Journalism for PR

One sign of the times is seeing more and more experienced journalism professionals move over to PR and corporate public affairs. It's the best way for them to make real money, alas. Increasingly, "journalism" is a freelancer's game that rewards churning out lots of short copy with less insight and reporting than opinion.
  • By Anne Thompson
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  • September 26, 2012 3:41 PM
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  • 2 Comments
More: Media

What Penske Could Do With Variety

The sands keep shifting under media professionals who thought they knew what they were doing.
  • By Anne Thompson
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  • September 25, 2012 6:18 PM
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  • 1 Comment

EXCLUSIVE: The LA Times Loses Geoff Boucher, Keeps Hero Complex, After Blowout with Editor

Another Los Angeles Times media star is leaving after a tumultuous few weeks. These departures follow the arrival of new LA Times assistant managing editor for arts and entertainment John Corrigan, which also led to the departure of longtime film columnist Patrick Goldstein. Now veteran entertainment writer Geoff Boucher, who founded the successful "Hero Complex" blog in 2008, is also leaving, but the LAT has not offered him a buyout.
  • By Anne Thompson
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  • September 11, 2012 11:09 PM
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  • 2 Comments
More: Media

Jon Voight Makes Waves at Republican National Convention

Actor Jon Voight is in Tampa this week at the Republican National Convention, and the Oscar-winner ("Coming Home)--who's never been afraid to speak his mind politically, penning a 2008 opinion piece against then-candidate Barack Obama and appearing in a video at the 2008 Republican convention--seems set to share his thoughts about the state of the country with anybody who'll listen.  The CliffsNotes version: Obama's a Marxist, and the media is hopelessly biased towards the incumbent in this year's election.
  • By Jacob Combs
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  • August 29, 2012 1:22 PM
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  • 1 Comment
More: Media, Politics

Media: Movie Columnist Patrick Goldstein Leaves the LAT After 12 Years

Patrick Goldstein is leaving the LA Times after reportedly taking a buyout. After twelve years, his last column ran Wednesday. I'm sorry to see him go. But I have a confession to make. I had stopped reading Goldstein every week. I wasn't avoiding him. There was a time when I read the weekly The Big Picture column religiously, looked forward to it, good, bad or ugly.
  • By Anne Thompson
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  • August 22, 2012 5:50 PM
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  • 6 Comments
More: Media

Avenue Capital Hedge Fund To Announce Variety Buy This Week

The frontrunner to buy 107-year-old entertainment industry trade Variety is New York billionaire Marc Lasry’s Avenue Capital hedge fund, according to The New York Post. A source reports that Variety parent company Reed Business Information has accepted a bid between $30 million and $40 million. An official deal announcement is expected this week.
  • By Anne Thompson
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  • August 13, 2012 5:06 PM
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  • 0 Comments
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