Us Weekly has moved from one magazine powerhouse to another.
American Media, publisher of the National Enquirer and OK! weeklies, has acquired the celebrity-filled magazine from Wenner Media, which had owned it for more than 30 years.
The New York Times Company founded Us Weekly in 1977 and sold it to Wenner, the group that published Rolling Stone.
The magazine now has a paid circulation of more than 1.95 million copies weekly and total readership of more than 50 million consumers, the companies said in a statement announcing the sale Wednesday.
The online edition draws more than 22 million visitors monthly.
“We are excited to bring one of the most distinctive and powerful media brands to (American Media) and are looking forward to continuing its great editorial standards its loyal and growing audience expects,” said CEO David Pecker in the announcement.
Us Weekly's recently established in-house video operation produces 20 videos daily and draws more than 20 million average views per month, a development that will help "expand our business and further establish our distinct advantages in today’s new media landscape,” Pecker said.
Terms of the agreement were not disclosed, but The New York Times reported that the price was $100 million, citing two people with knowledge of the sale.
Us Weekly expands the library of magazines under American Media's umbrella including Soap Opera Digest, Men's Fitness, and Muscle & Fitness.
Last September, Wenner Media, which also publishes Men's Journal and video game news site Glixel, sold 49% of Rolling Stone to BandLab Technologies of Singapore in a move meant to expand the brand's digital business.
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