American Media Inc (AMI) is selling its controversial tabloid National Enquirer and its two sister publications for USD 100 million.
The supermarket tabloid, which has been accused of favouring US President Donald Trump during the 2016 presidential elections, has been purchased by CEO of Hudson News, James Cohen, reported The Washington Post.
The sale would help AMI to bring down its debt to USD 355 million. Reportedly, AMI also faced significant legal risks for the tabloid's reporting style.
Besides election meddling allegations, the National Enquirer has been embroiled in a public feud with Amazon founder and CEO Jeff Bezos.
The tabloid allegedly paid USD 2 million for leaking private messages of Jeff Bezos, reported The Hill.
The National Enquirer had published a report in January which included text messages that were exchanged between Bezos, who was still married at that time, and his secret-girlfriend Lauren Sanchez.
Following the report, Bezos had alleged that he was "extorted and blackmailed" by the National Enquirer, threatening to leak his intimate pictures and texts sent to Sanchez. (ANI)