Variety, the granddaddy of the film trades, has been sold to Deadline owner Penske Media Corp. and now will probably move out of the very visible Variety building at 5900 Wilshire Boulevard: "Penske is said to have concerns that Variety's rent at the Miracle Mile building it has called home since 2008 is too high and feels that relocating the paper elsewhere makes economic sense, according to sources." It's not clear yet where the paper might go, but its lease is up at the end of February 2014. [The Hollywood Reporter]
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