LONDON (Brand Republic) - American Media Inc, the publisher of US supermarket tabloids the National Enquirer and Star, is being seen as a possible buyer for Emap USA.
The US media firm is understood to be considering a bid in the region of £450m, a long way short of the £720m Emap paid for the former Petersen business at the end of 1998.
Emap is likely to reject the bid for its troubled US operations, which comprises 110 titles including Motor Trend, Hot Rod and Guns & Ammo.
The US operation has suffered because of a slump in the automotive sector, from which it derives a significant chunk of advertising revenues. The division is additionally burdened by £650m of debt, a declining circulation, ageing readership, under-investment and high staff turnover.
For American Media, the acquisition would give it the respectability it is seeking as sales of its tabloid newspapers decline.
It recently launched a new automotive magazine, Auto World Weekly, making the automotive-heavy Emap USA a good fit.