NEW YORK, June 15, 2018 /PRNewswire/ -- American Media, Inc. (AMI) Chairman and CEO David J. Pecker, and Steven Kotok, CEO and President of Bauer Media USA, today announced an agreement for AMI to purchase the celebrity group and the teenage and kids group of Bauer Media USA. The transaction is expected to close on or about July 1, 2018. With this agreement, AMI will take ownership of the complementary print and digital properties for the 13 brands within these two groups. Titles such as In Touch, Life & Style, Closer, J-14 and Teen Boss will round out AMI's current portfolio.
"It gives me great pleasure to announce this acquisition which provides AMI with an extraordinary opportunity to further build upon the success of our entertainment group. AMI has built an award-winning portfolio of celebrity brands second to none in the industry," said Mr. Pecker. "Our leadership team will remain focused on growth, innovation and continued disruption with today's changes designed to further reinforce our leading position in the publishing industry and foster remarkable storytelling across all of our brands and platforms."
Bauer Media USA has made the decision to focus its portfolio on its women's service business, Woman's World and First for Women, the top two sellers at the newsstand, respectively. Bauer holds the lead position in this area based on its unique and differentiated offering and intends to further grow this strong business.
"Under AMI's leadership, we believe the celebrity and teenage and kids titles will continue to succeed at delighting their audiences," adds Bauer Media USA Chief Executive Officer, Steven Kotok. "With this deal, Bauer USA will focus entirely on building on our leadership position in women's service."
About American Media, Inc.
American Media, Inc. (AMI) owns and operates the leading print and digital celebrity and active lifestyle media brands in the United States. AMI's titles include Us Weekly, OK!, Star, Men's Journal, Muscle & Fitness, Mr. Olympia Contest, National Enquirer and other celebrity titles. AMI also manages nine different digital sites including Usmagazine.com, OKmagazine.com, RadarOnline.com, MensJournal.com, MuscleandFitness.com and other digital and social properties. AMI's magazines have a combined total circulation of 5.3+ million and reach more than 51 million men and women each month. AMI's digital properties reach approximately 60 million unique visitors monthly.
About Bauer Media Group:
Bauer Media Group is one of the world's most successful media corporations. Over 600 magazines, more than 400 digital products and over 100 radio and TV stations are enjoyed by millions of people across the globe. Bauer Media USA publishes the two bestselling magazines at retail in the country, Women's World and First for Women. The women's service-focused company connects with a nationwide audience of active, engaged newsstand and digital consumers. Woman's World, First for Women and Soaps in Depth represent the strongest segment of the American woman's market and deliver practical solutions and ideas for her home and family as well as personal and celebrity stories delivered in a modern way. Bauer Media USA reaches these women on multiple levels–inspiring them spiritually, professionally and personally in their everyday lives.
SOURCE American Media, Inc.; Bauer Media Group