American Media Inc. Buys OK! Magazine

Didn’t see this one coming. National Enquirer publisher American Media Inc. has just made a deal to purchase the American version of OK! magazine from British publisher Northern & Shell for an undisclosed sum. OK! has been losing bundles of money ever since it was launched in 2005–so this news is definitely odd, considering AMI filed for bankruptcy just last year and was rumored to be on the auction block itself only two weeks ago.

When last we heard, Time Warner was interested in taking over OK!.

Aside from the Enquirer and now OK!, AMI owns Star, Country Weekly, TV Guide, Soap Opera Digest and Soap Opera.

Previously on FishbowlLA: Time Warner Makes Bid for OK! Mag