Distributor Source Interlink to Acquire Magazines

BONITA SPRINGS, Fla. — Source Interlink Cos. here, which distributes magazines, books, DVDs and CDs to many supermarkets, has signed a definitive stock purchase agreement to acquire the Enthusiast Media Division from Primedia, New York. This includes magazines such as Motor Trend, Soap Opera Digest, Surfer and Snowboarder. To fund the acquisition, Source Interlink, which is partly owned by the Yucaipa Cos., Los Angeles, with its holdings in supermarket firms, has secured a financing commitment from Citigroup Global Markets, New York. “This acquisition is a first step to leverage what we have built by transforming Source into a fully integrated media company with both print and digital content,” said Michael Duckworth, chairman of Source Interlink.

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