Reed Business Information has announced plans to sell Variety, the venerable showbiz news and information provider.

The decision follows RBI’s divestiture of other U.S. business publications during the past three years. Reed has owned Variety since 1987.

” Variety is an iconic title serving the film and entertainment industry for more than 100 years,” said RBI chief executive Mark Kelsey. “With RBI’s increasing focus on data services, and the sale of our other U.S. print magazines, it now makes sense for us to sell the business. Variety has an incredibly talented team who have successfully innovated and expanded the franchise in industry news and analysis. I have no doubt the business will continue to thrive under new ownership.”

In recent years, Variety has broadened its portfolio by expanding into conferences and events, with more than 30 events on its sked for this year. It also established the Variety Insight data wing with the acquisition of TVtracker, the launch of Flixtracker and the Variety Archives services.

“For more than 100 years, Variety has been the leading source of information and analysis for the entertainment industry,” said Variety prexy Neil Stiles. “It continues to hold that position, and with its talented staff and far-reaching relationships, Variety is at the heart of the industry. I have every confidence that under new ownership, Variety will continue to thrive, innovate and provide fantastic insight into the sector.”