Owner of L.A. Times and Chicago Tribune Close to Buying Popular Weekly Magazine

Mar 8, 2017  •  Post A Comment

A weekly magazine that almost anyone who has spent time in a dentist’s waiting room has probably read is close to getting a new owner. The New York Post reports that Tronc, the company that owns the Los Angeles Times, the Chicago Tribune and other papers, is in late-stage talks to acquire Us Weekly from Wenner Media.

Wenner also owns Rolling Stone and Men’s Journal.

The purchase price for Us is reportedly about $90 million.

“The talks are said to be fluid and could still break down, one person familiar with the situation cautioned,” The Post reports, adding: “Wenner, rocked by declining ad revenue and the reputational and financial fallout from a discredited story in Rolling Stone about a college rape, has been looking to move the celebrity title since late last year.”

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