American Media, Inc. Announces Agreement To Acquire Us Weekly From Wenner Media
NEW YORK, March 15, 2017 /PRNewswire/ -- American Media, Inc. (AMI), the leading publisher of celebrity journalism and health and fitness magazines in the United States, today announced that it has reached a definitive agreement to acquire Us Weekly from Wenner Media. Us Weekly is a cultural reference point and provides the most timely and current entertainment and lifestyle news through the lens of celebrity to a total audience of more than 50 million young and affluent consumers across its platforms.
"We are excited to bring one of the most distinctive and powerful media brands to AMI and are looking forward to continuing its great editorial standards its loyal and growing audience expects," said AMI CEO and Chairman David J. Pecker. "The extraordinary growth of Us Weekly as a multi-media leader for advertisers under Victoria Lasdon Rose's leadership underscores the vitality of the brand to deliver creative and engaging marketing opportunities with its star-studded events."
Founded in 1977 by the New York Times Company, Us Weekly was acquired by Wenner Media in 1985 marking a turning point for the brand. It has been a pop culture staple for 40 years and its audience is greater now than at any time in its history. Us Weekly is one of the largest magazines in the country with just over 1,950,000 paid copies per week and an online presence of more than 22 million visitors per month.
In the past year, Us Weekly has established an in-house video operation that produces 20 editorial and branded videos per day and garners over 20 million average views per month, resulting in significant increases in both audience and advertising revenue.
"The addition of such a strong stand-alone media brand like Us Weekly underscores AMI's continued focus on our assertive strategy to expand our business and further establish our distinct advantages in today's new media landscape," said Mr. Pecker.
"We are enormously proud of the evolution and tremendous accomplishments of Us Weekly, a brand that has continually defined celebrity news," said Gus Wenner, Head of Digital of Wenner Media. "We know that AMI will provide Us Weekly with exciting opportunities and we look forward to following their continued success," he added.
Methuselah Advisors is financial advisor to Wenner Media, and Skadden, Arps, Slate, Meagher & Flom LLP is legal advisor to Wenner Media. Cole Schotz P.C. is legal advisor to AMI.
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 National Enquirer, Star, OK!, Globe, National Examiner, Soap Opera Digest, Men's Fitness, Muscle & Fitness, Flex and Muscle & Fitness Hers. AMI also manages 10 different digital sites including RadarOnline.com, OKmagazine.com, MensFitness.com and MuscleandFitness.com. AMI's magazines have a combined total circulation of 2.3+ million and reach more than 39 million men and women each month. AMI's digital properties reach an average of 50 million unique visitors and over 350 million page views monthly.
About Wenner Media
Wenner Media LLC, a privately held company headquartered in New York City, publishes Rolling Stone, Us Weekly, Men's Journal and Glixel. The company's three magazine titles attract over 41 million readers each month in print, and nearly 40 million gross monthly unique visitors to its websites, UsMagazine.com, RollingStone.com and MensJournal.com. Glixel, Wenner's first digital only brand, launched in late 2016.
(Sources: MRI Spring 2016; comScore 1H 2016 averages)
SOURCE American Media, Inc.
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