I’m told that Variety president and publisher Neil Stiles is “realigning” the NYC sales office. Insides say he’s let three people go, which is half the sales force there. Plans are to replace one of the sales people and to hire a senior manager to improve what was described to me as “a growing lack of adult supervision”. These are the first real layoffs for Variety. In recent months, one junior sales job focusing on the consumer sector was eliminated, and some online people in the Los Angeles office were “upgraded”, I’m told. All the sales staff report to associate publisher Brian Gott. So what about the sale of Variety‘s parent company Reed Business Information. I’m told it’s narrowed down to three bidders — Bain Capital, TPG and Strauss Zelnick, the former non-executive director of Reed Elsevier who teamed up with private equity group Apollo.
Variety Fires Half Its NYC Sales Office; Reed Elsevier Info's Bidders Down To 3
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