Wenner Media is poised to sell celebrity and entertainment title Us Weekly, according to New York Post, which in a second story, noted the price tag was $100 million. Wenner Media, which is owned by Rolling Stone and Men’s Journal owner Jann Wenner, has reportedly tapped New York investment firm Methuselah Advisors to gauge interest. The company has been under intense pressure following recent lawsuits brought on by a discredited Rolling Stone article called "A Rape on Campus” published in November 2014. click Read More below for more of the story
American Media, LLC today announced that its Board concluded its strategic operational review of its tabloid business, which began last August, and has resulted in the decision to explore strategic options for its National Enquirer (US and UK editions), Globe and National Examiner brands, which will likely result in their sale in the near future.
“We have been keenly focused on leveraging the popularity of our celebrity glossy, teen and active lifestyle brands while developing new and robust platforms including broadcast and audio programming, and a live events business, that now deliver significant revenue streams,” said American Media President and CEO David J. Pecker. “Because of this focus, we feel the future opportunities with the tabloids can be best exploited by a different ownership.”
American Media has seen significant growth in the past two years with the acquisitions of Us Weekly, Men’s Journal, Bauer’s U.S. celebrity and teen publications, and the most recent acquisition of media assets comprising TEN: Publishing’s Adventure Sports Network (ASN). The addition of ASN’s 14 adventure and sports brands makes American Media the sixth largest sports media brand in the world, delivering more than 60 million monthly video views.
The company has also continued to grow its experiential marketing and events division. In addition to its ownership of Joe Weider’s Mr. Olympia Fitness & Performance Expo, and international series of Mr. Olympia events, the company added the newly acquired production assets from TEN Publishing, including world-renowned action sports events, allowing American Media to further deliver unique and creative opportunities to engage with a young and passionate audience.