Reed Elsevier Countersues Variety Media
Variety Media last month in New York added the trade publication’s former owners Reed Elsevier and Reed Business Information to its kickbacks and fraud case against branding company Beverly Hills Media Group, seeking $10M in damages in New York state Supreme Court for breach of contract and declaratory relief. Today, Reed has countersued, claiming it’s owed $1.3M more on the purchase price after Penske Media Corp acquired Variety in October 2012. PMC is Deadline’s parent company.
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