Leading 'Variety' Bidder Is Owner of 'National Enquirer'
Posted: 8/15/2012 | By: Ben Fritz | Los Angeles Times
Avenue Capital, a New York hedge fund whose holdings include the parent company of the National Enquirer, is now the leading bidder for Variety.
A late entrant in the sales process being run by Variety corporate parent Reed Elsevier, Avenue had bid more than $40 million, according to a person close to the process who was not authorized to speak publicly.
A late entrant in the sales process being run by Variety corporate parent Reed Elsevier, Avenue had bid more than $40 million, according to a person close to the process who was not authorized to speak publicly.