US Publisher to Sell off Five Magazines

16 June 2006

NEW YORK - Troubled tabloid publisher American Media is hoping to auction off five titles for around $300 million (€237m; £162m).

Under the hammer are Muscle & Fitness, Flex, Muscle & Fitness Hers, country-music magazine Country Weekly and Spanish-language celebrity title Mira!

The company's tepid financial results resulted in the closing of three money-losing magazines earlier this year and the scrapping of a plan to bring in London tabloid journalists to reinvigorate the National Enquirer.