Peter Bart is stepping down as the long-time editor-in-chief at entertainment magazine Variety, a Reed Elsevier PLC (RUK) title.

Bart will replaced by Timothy Gray, who has been editor of Variety since fall 2005, overseeing Daily Variety, Variety Gotham and weekly Variety. News of the move was confirmed to Dow Jones Newswires Monday after the news was reported earlier by the New York Post.

Bart will assume a newly created role as vice president and editorial director, effective immediately. The reason for the switch was not officially disclosed, but a story on Variety's Web site suggested the move was planned.

"Bart has managed Variety's staff and news operations for 20 years, and we have long had an agreement in place that, at the 20-year mark, he would move on to new responsibilities," Tad Smith, chief executive of Reed Business Information, said in the Variety article. "With this in mind, Tim Gray was named editor several years ago."

Bart will continue to write his weekly column, blog and serve as the publication's "ambassador in public venues," according to Variety. Bart will report to Smith, Variety said, while Gray will report to Neil Stiles, president of Variety.

In addition to his career as a journalist, Bart, 76, also worked extensively in the entertainment industry. He was an executive at Paramount Pictures, playing a role in films including "The Godfather." He also held an executive position at MGM.

Reed Elsevier recently changed hands at $28.92, down 63 cents, or 2.1%.

-By Kelly Nolan, Dow Jones Newswires; 201-938-4049; kelly.nolan@dowjones.com