AMI, a seller of celebrity magazines at retail, will assume responsibility for the editorial, production, circulation, advertising sales, marketing and other support services for both titles, beginning immediately.
Source Interlink is a publisher of magazines and on-line content for enthusiast audiences, as well as a wholesale distributor of magazines and provider of related in-store services across North America.
David Pecker, chairman, president and CEO of AMI, said: â€œThis agreement is ideal for American Media as both soap opera titles fit strategically into our entertainment group, which includes Star, National Enquirer, Country Weekly and TV Guide, reaching an audience of 37 million people. Advertising clients will benefit immensely as we will now deliver the most efficient ad buy in the celebrity category for consumers.â€
Michael Sullivan, president and CEO of Source Interlink Companies, said: â€œThis transaction will allow our media company to focus on the continued growth and investment in our core enthusiast brands, while positioning our sales and services company, to focus on its long-term vision of fully capitalizing on the vertical integration of our wholesale magazine distribution assets.
â€œAmerican Media understands and values our history and commitment to the entertainment category, through our soap titles. Given the synergies in their demographic audience, this license agreement will allow AMI to support these titles moving forward where they will continue to provide an exciting and relevant product for our dedicated consumers.â€
Will the move benefit AMI?
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