American Media Acquires Weider Publications

American Media Acquires Weider Publications

NEW YORK--American Media Inc. (AMI) and EvercorePartners reached an agreement to acquire Weider Publications Inc. for aggregateconsideration of $350 million. Salt Lake City-based Weider Nutrition indicatedthe publishing division was reviewing strategic alternatives in September 2002;the deal is expected to close in the first quarter of 2003.

Among the publications AMI gains in the acquisition are Muscle& Fitness, Flex, Shape, Fit Pregnancy and Natural Health, plusinternational editions of the titles. Weider Publications also sponsored the Mr.and Ms. Olympia contests and other body building and fitness events. Advertisingrevenues for the publications have more than doubled since 1997, and circulationhas grown at a 16-percent compound annual growth rate.

"With the acquisition of Weider, AMI will dramaticallyexpand our consumer magazine division and transform itself into a major mediacompany with a better balanced portfolio of revenues between circulation andadvertising," said David Pecker, chairman of AMI. The publisher is bestknown as publisher of the National Enquirer and Star. Otherpublications include Country Music and AMI's Auto World, plus morethan 200 mini-magazines and digests.