New developments show debt holder of American Media Inc., Chatham Asset Management ordered the the sale of the Olympia and Muscle & Fitness brands.
With the sale of the Olympia and Muscle & Fitness to Jake Wood, the bodybuilding and fitness world has been thrown into a state of flux. The two popular brands once owned by American Media Inc. (AMI) have seen their popularity rise over the years, completely overshadowing the competition. That’s why the sale of the company was such a major shock to so many in the industry.
But why now? With the rising popularity of bodybuilding and fitness in the mainstream, it seems to be a very alarming move. But it seems that we may have found the answer.
According to a recent NY Post article, AMI appears to be in need of some cash. With its $100 Million deal to sell the National Inquirer yet to be resolved, it looks like AMI has resorted to selling off their other print magazines. This of course included Muscle & Fitness which has been a long-time staple in the health and wellness publication space. Now, Muscle & Fitness will be a solely digital publication.
As for how much the Olympia and Muscle & Fitness trades were sold for, sources are saying that both brands were handed over with a price tag less than $75 Million. The sale was authorized at the behest of Chatham Asset Management which holds an 80% controlling interest in American Media Inc and all with the intention of paying off debt.
Now that Muscle & Fitness is scaling back all their print media, it seems that the brand will have a refocused agenda dedicated solely to the digital space. Under the ownership we’ll have to see how both Muscle & Fitness and the Olympia brands will perform. It will face stiff competition in the fitness expo trade market for ad dollars against the likes of Athleticon this October, FIBO USA, the Arnold Classic and many other expos across the country.
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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.
Source: NY Post
