The National Enquirer has reportedly been sold to the CEO of Hudson News.
The Enquirer, and two sister publications have been bought by James Cohen for $100 million, The Washington Post reported. Cohen leads a travel retailer known for its airport newsstands.
The parent company of the Enquirer, American Media, is controlled by a hedge fund. The fund’s manager decided to off load the tabloid because of “reporting tactics it practiced,” the Post reported.
American Media’s CEO, David Pecker, is a longtime friend of President Donald Trump. The tabloid appeared to sway the 2016 election in Trump’s favor, according to the Post.
The Enquirer’s circulation has dropped from 516,000 copies an issue in 2014, to 218,000 in December, the Post reported.
The sale also includes the National Examiner and the Globe.
Check back for more on this developing story.