The celebrity magazine OK! has paid �1m for the exclusive picture rights to the wedding of Catherine Zeta Jones and Michael Douglas on Saturday, according to reports.

The Sun newspaper claims the magazine won a bidding war with rival publication Hello!.

The fee is said to match the money paid to David and Victoria Beckham when they got married in Ireland two years ago.

The total cost of the wedding, being held a the Grand Ballroom of the New York Plaza Hotel, is reported to be between �1.2m and �1.5m

The couple are said to have spent �120,000 decorating the wedding venue alone.

Celebrity invitations

Douglas, has promised to fly the bride's entire family from Wales to New York in a private jet, at a reported cost of �100,000.

The dress, which is being kept secret until Saturday, is rumoured to have cost more than �100,000 and was designed by David Emanuel, co-creator of Princess Diana's wedding gown.

Celebrities such as Tom Jones, Danny DeVito, Sean Connery and even Bill Clinton are said to have been invited.

The couple's three-month old baby Dylan will watch the ceremony from the arms of his grandmother, while Douglas's 21-year-old son, Cameron, from his first marriage will act as best man.

Douglas has said: "This is my second wedding but Catherine's first - and last. I want it to be as nice for her as possible."