American Media has announced the acquisition of TEN: Publishing's Adventure Sports Network (ASN), which consists of 14 adventure and sports brands including Bike
, and Snowboarder
. American Media, whose other titles include US Weekly
, Men's Journal
, and National Enquirer
will also take over management of the Dew Tour.
The news comes a few weeks after American Media announced that it had raised $460 million
to refinance its outstanding debt capital.
"The opportunity to merge the incredible ASN brands with our recent acquisition of Men's Journal establishes a significant digital network and underscores American Media's commitment to diversifying our brand offerings and revenue streams," said American Media Chairman and CEO David J. Pecker.
"I am confident that under the management of the Men's Journal leadership, the addition of ASN's incredible digital and social scale will be important factors in our continued growth and success."
According to a press release, American Media will now manage the Dew Tour, which was attended by approximately 84,000 fans at its events in Long Beach, CA, and Breckenridge, CO in 2018, along with several other events.
Norb Garrett, President of ASN, said, "ASN has built a portfolio of the most enduring brands in the adventure sports media landscape. Under American Media's leadership, we will continue to grow our multi-platform reach across digital, social, print, and experiential events."
No layoffs were mentioned in the press release from American Media, although there are reports that editorial staff from multiple titles were let go. In addition, a post from the editor of Transworld Motocross
stated that the the “magazine, web site, and race series are on hold
More info as we get it.