WOODLAND HILLS - American Media Inc., owner of the National Enquirer and Star, has agreed to buy Weider Publications for $350 million in an effort to broaden the tabloid publisher's persona.
Along with its owner Evercore Partners, American Media will oversee Weider's line of health-oriented magazines including Shape, Muscle & Fitness and Flex. Of the approximate six bidders courting Woodland Hills-based Weider, American Media had been pursuing the company since September. The acquisition, subject to regulatory approval, is expected to close in the first quarter of next year.
Along with its owner Evercore Partners, American Media will oversee Weider's line of health-oriented magazines including Shape, Muscle & Fitness and Flex. Of the approximate six bidders courting Woodland Hills-based Weider, American Media had been pursuing the company since September. The acquisition, subject to regulatory approval, is expected to close in the first quarter of next year.