Hollywood Schadenfreude. Daily Variety Up For Sale.
As you may know, the Daily Variety sued me, my band, and my record label in a legal battle that lasted 8 years. I kept shouting at the top of my lungs, "you guys are idiots! You're paper is dying, you're laying off workers while spending hundreds of thousands of dollars suing an obscure little punk band over a perfectly legal parody."
Evidently what I was yapping about was more true than I thought. Only a few weeks after capitulating in their lawsuit against us, Reed Business Information has announced they are putting the failed trade publication up for sale.
Abusive and frivolous litigation is often a symptom of a bigger problem with a company. Often that problem best be summarized in this way: "Idiots are in charge of this enterprise."
Attention people with money: DO NOT WASTE YOUR RESOURCES ON BUYING VARIETY. The same people are still there. The staff is not smart enough to protect your investment. According to the New York Post, recent comScore reports show that Variety's web site was attracting 600,000 unique visits monthly while The Hollywood Reporter was getting FIVE MILLION!
Who would invest in this operation? No one would, so they're just selling the brand essentially. However, since they knew they were only going to have a brand to offer, why did they let an obscure little punk band relentlessly taint the brand for the last two years with a pretty decent internet campaign trashing Variety about their frivolous lawsuit against artists? Because they are dum dums. Industry observers are now speculating on who a buyer might be, David Geffen? A cable channel, perhaps?
My guess? When it's all sorted out, Reed will be forced to sell the turd to pornographers. That's the only industry they are connected with that wouldn't have to rehabilitate the brand to be associated with it. Larry Flynt, it's your move.