01/10/2009 05:12 am ET Updated May 25, 2011

OK! Magazine Drops Price Below $3

OK! magazine is cutting its newsstand price by 50 cents in an effort to separate itself from a crowded field of celebrity weeklies.

Beginning with the year-end double issue, OK! will drop the price of the magazine to $2.99 from $3.49. On the newsstand, that puts the magazine, published by U.K.-based Northern & Shell, on par with In Touch and Life & Style and a dollar below the $3.99 that People and US Weekly now charge.

OK! General Manager Kent Brownridge said he sees the move as a helping hand for struggling consumers, though he acknowledged it's also an effort to boost an industry segment under pressure. "I hope I'll be rewarded for being a good guy," Mr. Brownridge said.

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