AMI continues downsizing after selling the Mr. Olympia brand.
After recent reports of American Media Inc (AMI) selling the Mr. Olympia competition and brand and rumors of financial troubles for the company, even more changes are being issued by AMI as they continue to downsize their print publications. Now it appears the company has laid off their Men’s Journal staff.
According to sources, last Friday AMI laid off their entire Men’s Journal staff including senior editor J.R. Sullivan. The long time editor Tweeted the sudden news.
Bad news! The entire Men’s Journal staff got laid off today, including me! I feel nothing but gratitude for my time at the magazine, and I’ve been fortunate to work with an incredible group of writers. Allow me to share a few pieces I’ve had the privilege to edit:
— J.R. Sullivan (@JRSullivan90) February 21, 2020
Men’s Journal will be downsizing their print publication to six times a year. AMI continues to downsize all of their fitness trades, apparently in an attempt to get out of the business completely. This can be further backed by their sale of the Olympia fitness brand and expos as well as their sale of Muscle & Fitness magazine to bodybuilding promoter of Wings of Strength Jake Wood.
It is unknown as to how many staffers have been laid off after the sale of the Olympia and Muscle & Fitness brand, but based purely on speculation a great deal of employees are most likely in the market for new jobs.
It was confirmed that the trades were sold for roughly 70 Million. In 2002, AMI brought the publications and the Mr. Olympia Trade Show from the Weiders for a reported $350 Million. Based on these totals it appears that the company sold the brands at a loss.
*Header image courtesy of Instagram
Managing Editor at Generation Iron, Jonathan Salmon is a writer, martial arts instructor, and geek culture enthusiast. Check out his Instagram, Twitter, Facebook, and Sound Cloud for in-depth MMA analysis.