Stab is reporting that The Enthusiast Network, parent company of Transworld Skateboarding, is in the process of being purchased by American Media, owner of The National Enquirer, US Weekly, and Men’s Journal to name a few. According to the article, the acquisition required TEN to lay off 50% of its staff.
All up, more than 50% of TEN’s staff was culled, which was reportedly part of the deal between TEN and AM. In other words, if TEN wanted to be bought by AM, they’d have to slash a significant number of employees first.
There’s no word as of yet on how or if Transworld Skateboarding is affected by these new developments. We’ll update when more information becomes available.