Time Warner Makes Bid For OK! Mag

The American version of the British tabloid mag OK! has been up for sale since March. Looks like they may have finally gotten a bidder. According to Sky News, Time Warner has offered to pay between $30 and $35 million for the mag. Discussions are apparently ongoing between the American media giant and British media tycoon Richard Desmond.

While its British counterpart is quite successful, the American version of OK! has been something of a disaster since launching in 2005. Aside from reportedly losing good sums of money, the mag has left something wanting in employee relations. In 2009, an internal memo from an OK! efficiency expert leaked out, which basically told OK! staffers to justify their jobs in 2-3 sentences.

Time Warner has a good track record in publishing, running Sports Illustrated and Marie Claire as well as reigning American tabloid queen People.

Previously on FishbowlLA: OK! Magazine Allegedly Up for Sale