American Media acquires 13 Bauer Media brands to expand its digital audience

American Media (AMI) has acquired 13 brands from Bauer Media USA to reach out to the millennials and expand its digital network.
The acquired brands include In Touch, Life & Style, and Closer as well as the nine  Bauer Teen Group brands like J-14 and Girls World.
AMI has secured committed bridge financing from existing investors to fund the acquisition which is expected to close on or about July 1,2018.
AMI chairman and CEO David J. Pecker said: "Today's announcement underscores AM