Struggling entertainment trade publication Variety is eliminating its daily print edition next month, dropping its paywall and overhauling its top editorial staff.

The Daily Variety will halt publication on March 18, said Jay Penske, chief executive of Variety owner Penske Media Corp., and Michelle Sobrino, Variety’s publisher, in a statement released Tuesday.

The weekly edition will remain in print and will unveil a new look on March 26. “We remain committed to a print edition of Variety and are excited that it will expand in size and scope of coverage,” Sobrino said in the statement.

Variety, which Penske Media bought last year for $25 million, also said it is replacing current Editor-in-Chief Tim Gray with three co-editors: Claudia Eller, Cynthia Littleton and Andrew Wallenstein. Gray remains as editor of special projects.

The publication is also eliminating its “paywall,” which requires subscription for online access. It set up the paywall in 2009.

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