American Media LLC, the company that purchased a gutted Adventure Sports Network in January 2019 has apparently sold the National Enquirer (and a couple other tabloids) to Hudson Media. for $100 million, according to a story on WWD.
James Cohen, part of the family that founded Hudson News Distributors, is buying the U.S. and U.K versions of the gossip magazine from David Pecker’s American Media LLC (recently renamed from American Media Inc.), which acquired the title 20 years ago. The $100 million deal also includes two other tabloids, Globe and National Examiner. . . Pecker — whose friendship with President Donald Trump and the use of the Enquirer’s coverage to aid Trump’s candidacy and perhaps even his personal vendettas has come under intense scrutinyover the last year — wrote in a statement that the group of magazines actually pull in $30 million in profit annually.
Not sure what this really means other than Snowboarder, Skateboarding, and Surfer Magazine are no longer siblings of the politically embroiled gossip rags and AMI is a little less in debt — only $355 million now. Ouch.
[Link: WWD]
