Variety's new owner has named three new editors in chief and announced the end of the paper's daily edition, which will be replaced by a once-a-week Tuesday issue.
Claudia Eller, Cynthia Littleton (below left) and Andrew Wallenstein (below right) will oversee coverage of film, television and digital content, respectively. Tim Gray, who has been with Variety for 31 years, most recently as editor-in-chief, will stay on to oversee expanded international coverage and other special projects, the paper reported.
The new print edition will debut March 26. Variety will also release special editions covering everything from awards season to topical issues.
Variety began letting down its paywall last year, but announced its demise again on Tuesday to promote a new redesign that will debut March 1.
Changes have been brewing at the 107-year-old trade since Jay Penske, the CEO of Penske Media Corporation, purchased it for $25 million late last year. In November, he laid off nearly a quarter of the publication's staff — all in non-editorial positions — and a fresh round of editorial layoffs is expected as early as next month.
"When PMC purchased Variety last year, we committed to the digital evolution of this great brand," Penske said in a statement. "We're accelerating this strategy by heavily investing in our editorial staff, technology, video production and responsive design — all with the goal of providing the best experience for our dedicated readers."
Variety has struggled to maintain an audience with its lagging digital presence and increasing competition. The Hollywood Reporter, long the legacy paper's biggest competitor, recreated itself as a weekly glossy magazine under editor Janice Min.
Executive Editor Steve Gaydos is notably missing from the announcement and an individual with knowledge of the situation told TheWrap he is expected to continue overseeing the Vplus features section, which is separate from the daily news operations.
"He's right where they want him," the individual said. "There's no reason to believe him not getting into this three-headed monster role is really a snub."
Gaydos did not immediately respond to an email from TheWrap requesting comment.
Eller is returning to Variety after about 20 years at the Los Angeles Times, where she most recently served as entertainment news editor.
The Pulitzer Prize finalist previously worked at Variety as a film reporter from 1989 to 1993.
Littleton, a longtime Variety staffer, is being promoted from her most recent position as deputy editor. She is a veteran of the media trade publications who has worked at Broadcasting & Cable and the Hollywood Reporter, where she served as editor before re-joining Variety in 2007.
Wallenstein joined Variety in 2011, and most recently served as television editor, covering TV, technology and digital media. He served in several positions at the Hollywood Reporter, including as editor of THR.com.