Bauer Media has slimmed down its international magazine portfolio substantially with the sale of 13 of its 17 magazines published in the US.
The largest US tabloid publisher, American Media Inc (AMI), has purchased the portfolio of titles, which includes In Touch, Closer and Life & Style.
The titles will be added to the AMI portfolio, which includes The National Enquirer, Us Weekly, Globe, OK!, Star and Radar Online.
Combined, the new AMI Entertainment Group will reach 38 million readers and deliver the youngest median age in the category, claims the publisher. Newsstand sales will average 1 million copies weekly.
In addition to the increased newsstand sales and readership, the acquisition will help grow the AMI Entertainment Group’s monthly digital audience with the network now reaching more than 60 million unique visitors monthly and more than an additional 15 million social media fans and followers.
“Today’s announcement underscores AMI investor confidence in our business strategy as we continue to build and grow our Entertainment Group. Despite newsstand sales declining 20% annually, both Bauer and AMI have continued to invest in the marketplace and we believe there is still a terrific opportunity to grow newsstand revenue,” said AMI chairman and CEO David J Pecker. “I look forward to welcoming these trusted brands and talented staffs to AMI.”
The only major newsstand celebrity title not now part of the AMI portfolio is People magazine, which was recently acquired by Meredith Corp as part of the Time Inc acquisition.
As to Bauer’s future in the US, the publisher released a short statement that said it will now focus on its classic women’s portfolio in the US. Those titles are Woman’s World, Celebrate, First for Women and Soaps in Depth.