Business News

American Media, Inc. Reaches Licensing Agreement With Source Interlink Companies

Friday 15. April 2011 - AMI will Assume Responsibility for all Publishing Functions of Soap Opera Weekly and Soap Opera Digest

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.”