American Media Inc., publisher of The National Enquirer, Star, OK!, and Radar Online, has acquired celebrity-centric Us Weekly from Wenner Media.
AMI touted its glossy new addition as “a cultural reference point that provides the most timely and current entertainment and lifestyle news through the lens of celebrity to a total audience of more than 50 million young and affluent consumers.”
The Cole Schotz team included Alan Rubin, Roger Iorio, Chris Kula, Rimma Tsvasman, Joseph Armenti, David Rubenstein, Randi Kochman, Arianna Frankl, Neoma Ayala, and Arnold Picinich. The team provided counsel to the purchaser on all aspects of the acquisition, including the bidding process, the negotiation of the asset purchase agreement and related agreements, due diligence matters, and Hart-Scott-Rodino filings with federal regulators in conjunction with anti-trust co-counsel Ropes and Gray. In addition to corporate work, the transaction featured a significant intellectual property component in connection with conveying the copyrights and trademarks of the brand and related print and digital assets, as well as real estate license agreements for the use of US Weekly space in connection with the transition services agreement, and employment-related matters.
Methuselah Advisors acted as financial adviser to Wenner Media and Skadden, Arps, Slate, Meagher & Flom acted as its legal counsel.
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