By SYDNEY EMBER
March 15, 2017
Us Weekly, a celebrity magazine that has long been a staple at checkout counters, is changing hands.
On Wednesday, American Media Inc., which owns entertainment publications like the National Enquirer and Radar Online, announced that it had reached an agreement to acquire Us Weekly from Wenner Media, which has owned it since 1985. Terms of the agreement were not disclosed, but two people briefed on the deal said the price was $100 million.
“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,” David J. Pecker, American Media’s chairman and chief executive, said in a statement.
The acquisition of Us Weekly will give American Media a younger, more affluent audience, and a larger digital presence. It will also increase American Media’s heft in celebrity gossip — along with the National Enquirer and Radar Online, the company publishes the supermarket staples Star and OK!
For Wenner Media, which also publishes Rolling Stone and Men’s Journal, the sale of Us Weekly represents a further paring of assets. Last year, it sold a 49 percent stake in Rolling Stone to BandLab Technologies, a Singapore music technology company led by Meng Ru Kuok, the son of an Asian business magnate.
“I’m sad to say goodbye to those people and to a great brand — it’s done wonders for us and our family,” said Gus Wenner, the chief digital officer at Wenner and the son of the company’s founder, Jann S. Wenner. “But it’s also an exciting day for us, and I’m very excited to focus on the next chapter of Wenner Media and on the brands that we have where we see enormous growth potential.”