Leading ‘Variety’ Bidder Is Owner of ‘National Enquirer’

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.

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