Variety is being sold

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Seeking to "reduce exposure to advertising markets and cyclicality," Reed Elsevier intends to sell Variety and other Reed Business trade pubs like Broadcasting and Cable, Multichannel News and Publishers Weekly. Either the RE bean counters don't see enough growth potential in the advertising revenues from these trades over the next few years, or they've simply lost their stomach for the business. Can you imagine an owner of a automotive garage saying they're selling in order to reduce exposure to gaskets, oil filters, picky customers, Phillips head screwdrivers and fan belts?