AMERICAN MEDIA, LLC REACHES AGREEMENT TO SELL TABLOIDS, INCLUDING NATIONAL ENQUIRER, TO HUDSON MEDIA

NEW YORK, April 18, 2019 American Media, LLC today announced that it has reached an agreement in principle with James Cohen, the owner and CEO of Hudson Media, for the sale of its newsprint tabloids, including the National Enquirer (US and UK editions), Globe and National Examiner. The agreement also includes a multi-year service contract that will generate substantial fees for American Media to provide publishing, financial and distribution services for the tabloid brands.

“The sale of these brands shows their vitality in today’s newsstand marketplace where they continue to generate nearly $30 million in profit annually,” said American Media President and CEO David J. Pecker. “James and his team at Hudson have a proven history in publishing and have the market-based knowledge and long-term vision needed to ensure the growth of these brands.”

“Year after year, the Enquirer has continued to be one of the best-selling and most profitable newsstand titles,” said James Cohen. “But this transaction is about more than a weekly publication, it’s about a brand with extraordinary potential across multiple platforms.”

Mr. Cohen said he plans to accelerate the Enquirer’s current collaborations with Investigation Discovery, as well as the documentary shows it produces for REELZ. In addition, he sees exponential growth and engagement through weekly series podcasts from the tabloid’s archives. The recent 12-part audio documentary podcast, “Fatal Voyage: The Mysterious Death of Natalie Wood,” quickly became the #2 program among all Apple podcasts worldwide with 4+ million downloads in 2018. Expanding the National Enquirer theme parks that recently opened in Branson, Missouri and Pigeon Forge, Tennessee to other markets is another priority.

The result of this transaction is a significant deleveraging for American Media, leaving the company with only $355 million of debt. Interest expense will be reduced by $13 million per year, which will enhance the company’s free cash flow and allow American Media to continue to deleverage.

The agreement between the companies is expected to close as soon as possible once the necessary regulatory approvals have been obtained.

About American Media, LLC
American Media, LLC owns and operates the leading print and digital celebrity and active lifestyle media brands in the United States. American Media’s titles include Us Weekly, Star, OK!, In Touch, Life & Style, Closer, Men’s Journal, Muscle & Fitness, Powder, Snowboarder, Surfer, Bike, Mr. Olympia Contest, National Enquirer and other celebrity and teen titles. American Media also manages nineteen different digital sites including Usmagazine.com, OKmagazine.com, RadarOnline.com, Intouchweekly.com, Lifeandstylemag.com, Closerweekly.com, MensJournal.com, MuscleandFitness.com, Powder.com, Surfer.com and other digital and social properties. American Media’s magazines have a combined total circulation of 5.7+ million and reach approximately 49.4 million men and women each month. American Media’s digital properties reach approximately 65 million unique visitors monthly.

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Archant launches new ‘pop-up’ newspaper – The New European

 

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The New European, a weekly newspaper aimed at people who voted Remain, is being launched by Archant on Friday 8th July.

The paper will offer those feeling dismayed and disenfranchised by Brexit a non-political focal point, bringing together the extraordinarily broad spectrum of people who feel a real sense of loss after the Leave vote victory.

Conceived as a “pop-up paper” aiming to capture the zeitgeist and act as a chronicle for the extraordinary events of the summer of 2016, the title will be delivered to market faster than any other British newspaper in history – just nine days from concept to newsagent.

The New European represents both a markedly different approach in terms of content and readership, but also a wholly new business model for print and its place in an increasingly digital world.

The newspaper will initially run for just four issues, with any subsequent print runs being decided by reader interest. Every issue will be a collector’s item. After the fourth issue, every week’s sale will be a referendum on the next.

Available nationwide via the website, the paper’s retail distribution will be focused on London, Liverpool, Manchester, the south of England and other strongly remain voting areas.

The first issue will contain exclusive articles from leading voices in the UK and Europe, including:

  • Tanit Koch, Editor of Bild, Europe’s most-read newspaper
  • Saul Klein, leading European VC and partner with LocalGlobe
  • James Brown, former Loaded and GQ editor
  • Wolfgang Blau, ex editor of Zeit Online and former digital director of The Guardian
  • Simon Calver, partner with BGF Ventures and former CEO of Mothercare and LoveFilm
  • Annabelle Dickson, leader of the Westminster political lobby for regional newspapers
  • Football writers Steve Anglesey and Paddy Davitt
  • Peter Bale, CEO of the of the Centre for Public Integrity who broke the Panama Papers global exclusive
  • Ahmed Osman, renowned European fashion writer

Matt Kelly, Chief Content Officer and launch editor of The New European, said: “We are currently in an extraordinary period of time in the UK, with all of society seemingly in a state of flux and turmoil. I believe the 48% who voted to Remain are not well served by the traditional press and that there is a clear opportunity for a newspaper like The New European that people will want to read and carry like a badge of honour.

“We value expertise and have some of the world’s best brains in their areas writing for us. And it is also a politician-free zone. They are banned.

“It will be an eclectic and energetic mix of content – not just about the Brexit issue, but a celebration of why we loved Europe so much in the first place. There’ll be plenty of humour in there too – god knows we could all use a laugh these days.”

Will Hattam, Chief Marketing Officer, said: “This isn’t just another national newspaper, it’s a new type of publishing product. As a pop-up publishing project this is a truly innovative approach to reaching new audience segments by extending our established expertise in creating high-quality, engaging content into new areas.

“What’s exciting is that the story of this paper isn’t yet written – its sprung into life, driven by the events of the last few weeks, and will continue to serve its audience as long as they want it to. There’s no ongoing commitment, just an opportunity to explore new boundaries in newspaper publishing.”

The New European will be published by Archant and will be priced at £2 per issue.

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