|By PR Newswire||
|April 14, 2011 03:35 PM EDT||
NEW YORK, April 14, 2011 /PRNewswire/ -- David J. Pecker, Chairman, President and CEO of American Media, Inc. (AMI), today announced that a long-term licensing agreement has been reached with Source Interlink Companies to take over all editorial and advertising duties, including distribution and marketing for Soap Opera Weekly and Soap Opera Digest.
AMI, the largest 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.
Mr. Pecker commented, "This 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."
On announcing the new partnership, Michael L. Sullivan, President & CEO, Source Interlink Companies noted: "This 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. American 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. We are pleased to have identified the right partner and are confident that our soap titles are in good hands."
About American Media, Inc.
American Media, Inc. is the leading publisher of celebrity journalism and health and fitness magazines in the U.S. These include Star, Shape, Men's Fitness, Fit Pregnancy, Natural Health, and The National Enquirer. In addition to print properties, AMI manages 14 different web sites. The company also owns Distribution Services, Inc., the country's #1 in-store magazine merchandising company.
About Source Interlink
Source Interlink Companies (www.sourceinterlink.com) is the leading publisher of magazines and on-line content for enthusiast audiences, as well as a leading wholesale distributor of magazines and provider of related in-store services across North America. Source Interlink creates content for more than 70 publications, 90 websites, events, television, and radio. Its portfolio includes many respected brands such as Motor Trend, Automobile, Hot Rod, Automotive.com, Surfer and Intellichoice.
SOURCE American Media, Inc.
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