07/31/2008 05:12 am ET | Updated May 25, 2011

Us Weekly No Longer For Sale As Wenner Breaks Off Talks: Report

IT'S shaping up to be the summer of no deals in the world of magazines.

The biggest deal not getting done is Us Weekly, as Wenner Media owner Jann Wenner, who was said to be quietly testing the waters to sell the celebrity weekly for a blockbuster price of $750 million, has apparently broken off the talks.

"It's not happening," said one insider with knowledge of the discussions.

A Wenner spokesman insisted, "We have said all along Us Weekly is not for sale."

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