Tabloid owner American Media agreed to pay $150,000 for story from 1998 Playmate of the Year, but hasn’t published her account

The company that owns the National Enquirer, a backer of Donald Trump, agreed to pay $150,000 to a former Playboy centerfold model for her story of an affair a decade ago with the Republican presidential nominee, but then didn’t publish it, according to documents reviewed by The Wall Street Journal and people familiar with the matter.

The tabloid-newspaper publisher reached an agreement in early August with Karen McDougal, the 1998 Playmate of the Year.

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American Media Inc., which owns the Enquirer, hasn’t published anything about what she has told friends was a consensual romantic relationship she had with Mr. Trump in 2006. At the time, Mr. Trump was married to his current wife, Melania.