American Media Inc has agreed to promote the Nationwide Enquirer to James Cohen, the chief govt of journal retailer Hudson Media.
The deal comes after AMI earlier this month mentioned it was exploring a sale of the US tabloid fixture as a part of a “strategic overview”.
The Nationwide Enquirer has been embroiled in controversy all through the previous 12 months after being accused of paying hush cash to a former Playboy mannequin to assist Donald Trump win the 2016 presidential race. Jeff Bezos, the billionaire founding father of Amazon, additionally accused the Nationwide Enquirer of blackmailing him over private photographs.
The extent of drama surrounding the Nationwide Enquirer made it unclear who would purchase it, notably given its ties with the US president.
Mr Cohen, who has been within the media enterprise for many years after taking up the Hudson Information enterprise from his father Robert, described the Enquirer as “one of many best-selling and most worthwhile newsstand titles”.
Mr Cohen has moreover agreed to purchase two different AMI-owned tabloids: Nationwide Examiner and Globe.
David Pecker, president of AMI and a longtime buddy of Mr Trump, mentioned “the sale of those manufacturers exhibits their vitality in in the present day’s newsstand market”.
AMI final 12 months struck an settlement with the US Division of Justice to keep away from prosecution for its so-called “catch and kill” cost to Karen McDougal, the previous mannequin, to forestall her from making allegations towards Mr Trump throughout his presidential marketing campaign.