Marc Lasry Leads Bidders For Variety

New York billionaire Marc Lasry’s Avenue Capital has emerged as the front-runner to take control of Hollywood trade Variety. Variety’s parent company, Reed Elsevier, has accepted the hedge fund’s bid for between $30 million and $40 million, a source close to the talks says. Barring a last-minute challenge, a deal could be announced as early as this week, the source adds.