Last week, Los Angeles Times parent company tronc Inc. was in talks to buy celebrity magazine Us Weekly for $85 million to $95 million, but media analyst Ken Doctor says the deal is off.
Doctor reported that according to unnamed sources, tronc has walked away from its offer to acquire the celebrity publication, telling Us Weekly magazine owner Wenner Media on Friday that tronc had decided not to finalize and announce the deal this week.
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Doctor said the next suitor in line is American Media, owner of National Enquirer, Star, OK!, Soap Opera Digest, and Men’s Fitness.
Contact media and entertainment reporter Diane Haithman at firstname.lastname@example.org. Follow her on Twitter @dhaithman for the latest in L.A. business news.