[attach id=244344 size="medium"]The front cover of the newly launched Hollywood trade magazine Variety. Photo: Reuters[/attach]

Hollywood trade magazine Variety launched a new era on Tuesday with the publication of its first weekly glossy magazine focused on in-depth, analytical stories aimed squarely at entertainment industry professionals.

A week after 80 years of daily publication ceased following a change in ownership, the new editors at Variety say the magazine will shine a “laser focus” on the business needs of Hollywood rather than moving towards the more celebrity-filled content seen on other entertainment outlets.

“Nobody is doing the smart, analytical, in-depth pieces, and data-driven product where people will come away from reading knowing something that is important about their business,” said Cynthia Littleton, one of Variety’s three editors-in-chief.

“That is completely missing from the landscape and that is the void that we will fill with our new print weekly,” Littleton said.

Daily Variety, regarded as the bible of Hollywood for its movie and TV industry news, published its last daily printed edition on March 19, ending an 80-year-old tradition.

The business was sold last year to online publisher Jay Penske and private equity firm Third Point LLC.