The National Enquirer is being sold for $100 million to Hudson News CEO James Cohen, the Washington Post reported Thursday.
The development comes after the National Enquirer’s parent company, American Media Inc, announced it was evaluating “strategic options” for the supermarket tabloid. The media company also said it was looking options for its Globe and the National Examiner properties.
The Washington Post reports:
Pecker and his supermarket tabloid have also been embroiled in recent months in an unusually public feud with Amazon founder Jeff Bezos, who also owns The Washington Post.
The sale of AMI’s newsprint tabloid business, which also includes the National Examiner and the Globe, is expected to reduce AMI’s debt to $355 million, according to a person familiar with the company’s finances.
The company has faced financial difficulty as it sought to refinance more than $400 million in debt this year and as the Enquirer’s circulation continued to decline.
Neither National Enquirer nor Hudson News have commented on reports of the sale.