American Media Buys 'Soap Opera Digest'

I thought American Media already owned the 37-year-old magazine devoted to soap operas. But it turns out that the company has just been operating it for the last year or so under license from Source Interlink Media. Source Interlink bought Soap Opera Digest in 2007 from Primedia, which bought it in 1991 from News Corp, which bought it in 1989 from Network Publishing Corp, which bought it in 1980 from co-founders Angela and Jerome Shapiro. American Media is just getting around to announcing the deal that it says closed on July 20, and took effect on June 1. Stephanie Sloane remains Editor-In-Chief and David Jackson the Group Publisher. “Soap Opera Digest is a very important strategic acquisition for [American Media] as it fits perfectly in the Celebrity & Entertainment Group,” CEO David Pecker says. That group includes the Star, National Enquirer, OK!, Country Weekly, and Radar Online. The company didn’t disclose financial terms, but says that the weekly magazine has a circulation of more than 200,000. That’s down from more than 1M in 2001.

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