Wenner Media is downsizing its media empire once again—and with a familiar buyer in place.
Back in March, the media company finally found itself debt free after selling its celebrity title Us Weekly to rival publisher American Media Inc. (it publishes The National Enquirer, Men’s Fitness, and other titles). The New York Times is now reporting that AMI has also purchased Wenner’s lifestyle title Men’s Journal, a monthly magazine founded in 1992.
Gus Wenner, the head of digital operations at Wenner Media—and the heir apparent to his family’s media business—told the Times, “We weren’t proactively on the market with Men’s Journal, but the opportunity came up, and it kind of fits in with our plans and our desire to really continue to grow Rolling Stone….It just made sense.”
David Pecker, CEO of AMI, said he plans to keep all 25 Men’s Journal staffers.
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