American Media, publisher of tabloids including The National Enquirer and the Spanish language tabloid Mira, got a US $508 million investment from buyout firm Thomas H. Lee Partners and Evercore Capital Partners. Lee and Evercore funded about half of the total equity of the $508 million. “This new capitalization of AMI better allows us to build a larger media company,” American Media Chairman and CEO David J. Pecker said.
At the beginning of the year, American Media bought Weider Publications, a publisher of fitness magazines, for US $350 million. American Media stated that it might launch Spanish language versions of Weider titles (see “Is American Media in proper Shape to reach the Hispanic market?” page 1, Portadatm No. 2 March/April 2003).