New York (CNN Business) Federal prosecutors announced Wednesday that they have struck a non-prosecution agreement with National Enquirer parent company American Media Inc., effectively ruling out charges for the tabloid publisher over its role in securing hush money from President Trump's longtime personal lawyer Michael Cohen.

As part of the agreement, AMI admitted to making a payment of $150,000 in cooperation with members of Trump's presidential campaign in order to prevent former Playboy model Karen McDougal's claims of an affair with Trump from being made public during the 2016 race.

AMI chairman David Pecker is a longtime friend of Trump's, and the Enquirer was one of Trump's most reliable and enthusiastic media boosters during the campaign.

Pecker met with Cohen "and at least one other member of the campaign" in August of 2015, according to the non-prosecution agreement, which was struck with prosecutors from the office of the U.S. Attorney for the Southern District of New York.

"At the meeting, Pecker offered to help deal with negative stories about that presidential candidate's relationships with women by, among other things, assisting the campaign in identifying such stories so they could be purchased and their publication avoided," the agreement read. "Pecker agreed to keep Cohen apprised of any such negative stories."

Read More