The lawyer in the case against Variety owner Jay Penske by a Beverly Hills marketing executive called to set me straight.
Lawyer Steven Morris said Penske refused to honor a joint venture signed last year between Variety and his client, Beverly Hills Media Group, before Penske bought the trade from Reed Elsevier. And so Penske just cancelled it, after first trying to negotiate different terms.
BHMG said: No can do. (Read it here)
BHMG sued Penske first, on April 30, for breach of contract. Penske countersued for fraud the next day, May 1, as the court documents confirm. Duly noted. (Our first story had the order wrong, as did Deadline.)