CHICAGO A New York investors group calling itself Bat Boy LLC has bought the one-time supermarket tabloid Weekly World News from American Media Operations Inc., it was announced over the weekend.
Weekly World News, which on its online version refers to itself as "The World's Only Reliable News," has for nearly three decades spun out tales of alien invasions, fantastic archeological discoveries, and, most memorably, of Bat Boy, a half-human, half-bat creature found in a cave back in 1992.
The new CEO of Weekly World News,
Neil McGiness, referred indirectly to Bat Boy, which inspired a Broadway play, in the statement announcing the sale.
"The Weekly World News is a powerful brand in publishing, entertainment and online," he said. "The Weekly World News brand and its characters have inspired musicals, books, feature film projects and television shows over the years. We see tremendous potential for growing the brand and significantly expanding the business."
McGiness most recently was vice president of entertainment of IMG Media. He also served as vice president of marketing for Lorne Michaels' Broadway Video Entertainment, producer of "Saturday Night Live" and "Late Night with Conan O'Brien" as well as motion pictures such as "Wayne's World."
Terms of the deal were not disclosed.
American Media stopped print publication of the tabloid in August 2007 citing declining sales. The paper continues to have an online presence, with a recent article revealing that presidential candidate Barack Obama has a half-man, half-bat half-brother named "Obatma."
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