By Sarah Ellison Sarah Ellison Reporter covering media and its intersection with politics and technology Email Bio Follow April 18 at 1:40 PM Ending an association between a longtime friend of President Trump and the tabloid that favored him during the 2016 election, American Media Inc. LLC is selling the National Enquirer for $100 million to James Cohen, CEO of Hudson News.
The decision to sell came after Anthony Melchiorre, the hedge fund manager whose firm controls AMI, became disillusioned with the reporting tactics of the Enquirer, which is overseen by David Pecker, Trump’s confidant dating back many years. Pecker and his supermarket tabloid have also been embroiled in recent months in an unusually public feud with Amazon founder Jeff Bezos, who also owns The Washington Post.
The company has faced financial difficulty as it sought to refinance more than $400 million in debt this year and as the Enquirer’s circulation continued to decline. The paper sold an average of 516,000 copies per issue in 2014, but that number fell to 218,000 in December, according to data compiled by the Alliance for Audited Media.
Source: Holiday News (holidaynews.net)
EITMonline Didn’t know it was still published
Fitting
realDonaldTrump , I know, I know. It really hasn't been your best day. 1st the Mueller report & now your co-hort in holding back the truth sold his sick 'news'paper. Who can you turn to now? No matter what......
GlennKesslerWP I'm surprised MBS didn't buy it. Curious though if the sale includes the rumored vault
GlennKesslerWP I pray he then sells it to Bezos and then Bezos destroys it
What’s in the “catch & kill” file?
Does that come with the kill safe?
David hands James key to vault?!? Stay tuned, film at 11...
Yea good luck, lets start bidding at $100
Why would ANYONE buy this TRASH?
American Media has been under intense pressure because of the Enquirer’s efforts to tilt the 2016 presidential election in favor of Donald Trump, who is a longtime friend of the company's president and CEO, David Pecker
Cc:JoeBudden thisisrory parksmusic MAL___
Indemnification - Reps & Warranties - yikes
GlennKesslerWP Missed opportunity amazon
Interesting timing of this news item. Right when the country is gorging on the Mueller report
...... on behalf of his good friend Jeff Bezos!!🙏🏻🙏🏽🙏 please God make it so!!!😂😂😂
Like rats fleeing the sinking ship.
Those legal fees must really be adding up for peckergate
There is an extra word in this Should read 'sold for $100 to James Cohen' Anything more than that is sheer stupidity
Leaving the Washington Post as the last remaining Tabloid on the rack
Broken link.
wonder if he gets the vault of dirt on POTUS and other powerful people.
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