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.
Related Links: Tronc Zooms In On Us Weekly Magazine Acquisition
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 email@example.com. Follow her on Twitter @dhaithman for the latest in L.A. business news.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Tronc Zooms In On Us Weekly Magazine Acquisition
- Newspaper’s Parent May Add Star Power
- Top Editors Ousted, New Leadership Named at Los Angeles Times
- Tronc’s Top HR Exec Resigns
- Soon-Shiong Reportedly to Buy L.A. Times, San Diego Union-Tribune
- Soon-Shiong Ups tronc Stake, Within 1% of Ferro
- Los Angeles Times Journalists Again Propose Union
- Gannett’s Tronc Interest Hits Major Snag