The National Enquirer had admitted to paying hush money to help U.S. President Donald Trump get elected and been accused of attempting to blackmail Amazon founder Jeff Bezos.
The weekly tabloid, along with two of its sister publications, will be purchased by the head of Hudson Media, which is known for its airport newsstands.
This comes a week after AMI said it was looking at "strategic options" for the National Enquirer as well as for the Globe and the National Examiner brands.
The sale is expected to reduce AMI's debt to $355 million.
Earlier in the day, the Washington Post reported about the AMI's decision to sell its tabloid to the head of Hudson News for $100 million.