American Media puts magazine titles up for auction
Published June 14th, 2006
American Media Inc. is putting five of its 16 magazine titles, including Muscle & Fitness and Flex, on the auction block, The Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The five titles, which also include Muscle & Fitness Hers, Country Weekly and Spanish-language Mira!, generated $84 million in revenue in the 12 months ended March, and about $30 million in operating income plus amortization, the Journal said.
American Media hopes to gain from 10 to 13 times operating income for the five magazines, providing a target price of at least $300 million, the newspaper said.
There was no immediate comment from American Media.
