American Media Inc. has agreed to give $3 million in advertising to MusclePharm, a protein-powder supplement maker, in exchange for more than 920,000 shares of common stock in the publicly traded company.
AMI Chief Executive David Pecker called the deal “an extraordinary partnership ”
The supplement maker was closely associated with Arnold Schwarzenegger, as a shareholder and ad pitchman, but he terminated his involvement with the company in 2016 after it came under fire from a number of lawsuits alleging deceptive ad claims in its ads.
All but one of the suits have been settled.
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