UPDATE: The National Enquirer is being sold for $100 million to James Cohen, CEO of Hudson News
Source: Washington Post
Ending an association between a longtime friend of President Trump and the tabloid that favored him during the 2016 election, American Media Inc. LLC (AMI) is selling the National Enquirer for $100 million to James Cohen, CEO of Hudson News. The supermarket tabloid, along with two sister publications, will be purchased by the head of the travel retailer known for its airport newsstands, according to people familiar with the agreement.
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, Trumps confidant dating back many years. American Media has been under intense pressure because of the Enquirers efforts to tilt the 2016 presidential election in favor of Trump.
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 sale of AMIs newsprint tabloid business, which also includes the National Examiner and the Globe, is expected to reduce AMIs debt to $355 million, according to a person familiar with the companys finances.
The company has faced financial difficulty as it sought to refinance more than $400 million in debt this year and as the Enquirers 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.
Read more: https://www.washingtonpost.com/lifestyle/style/the-national-enquirer-is-being-sold-for-100-million-to-james-cohen-ceo-of-hudson-news/2019/04/18/03fef706-61fe-11e9-9412-daf3d2e67c6d_story.html
Timing of announcement.
But with the update - Mission accomplished.
Original article -
April 18 at 1:16 PM
The supermarket tabloid, along with two sister publications, will be purchased by the head of the travel retailer known for its airport newsstands, according to people familiar with the agreement.
The decision to sell came after the hedge fund manager whose firm controls the tabloid's parent company, American Media, became disillusioned with the reporting tactics it practiced. 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 American Media's CEO, David Pecker.
This is a developing story. It will be updated.
https://www.washingtonpost.com/news/style/wp/2019/04/18/the-national-enquirer-is-being-sold-for-100-million-to-james-cohen-ceo-of-hudson-news/?utm_term=.ea375e6ac3a5
mahatmakanejeeves
(57,472 posts)Cetacea
(7,367 posts)Elvis and JFK being alive aside.
playaseeker
(59 posts)Money is the best weapon
jberryhill
(62,444 posts)They'll probably weather the hit from your M&M consumption.
nycbos
(6,034 posts)... they are your only choice.
awesomerwb1
(4,268 posts)nycbos
(6,034 posts)displacedtexan
(15,696 posts)Insert publication's tagline here.
Submariner
(12,504 posts)he should have no problem getting the money for the buy.
jberryhill
(62,444 posts)And if you bring your own bottle, like a cycling bidon, you can use it every time you travel and I'm sure Jacques Cousteau would be happy at that.
https://www.chicobag.com/product-bottle-sling-repete-aquamarine-9
Dave Starsky
(5,914 posts)I've seen the nozzles of those things virtually coated in lipstick from God knows how many thousands of people.
jberryhill
(62,444 posts)As I cannot imagine how lipstick would get on them.
You are telling me that contortionists manage to overlook the drinking fountains, somehow turn their heads upside down while arching their backs backwards, and put their lips on the nozzles of bottle filling stations?
Sorry, but as someone who logs 50k air miles a year and travels with a refillable bottle, I have never seen lipstick on a bottle filling station nor could I imagine how on earth it would get there.
Dave Starsky
(5,914 posts)Don't ask me why they do it. Maybe they think it fills faster. But they do.
If you log 50K flight miles a year, you've probably built up a superhuman immune system from drinking water from airport bottle fillers. You will probably be one of the last survivors of the impending supervirus mass extinction.
jberryhill
(62,444 posts)That tray table is filthy, btw.
But I'm trying to imagine the mode of transmission between the outside rim of a bottle to the inside rim of a bottle contacting the outside rim of the spout, and the water coming from the inside of the spout. All the wrong things are in successive hypothetical contact.
You do realize that at the Evian bottling plant, the workers don't get bathroom breaks and so they just pee in the water, right?
That's why "Evian" backwards is "naive".
Tap water is treated. Bottled water is not:
https://www.ecowatch.com/tap-water-vs-bottled-water-1973932208.html
Dave Starsky
(5,914 posts)But urine, for the most part, is sterile, so NBD. Still cleaner than an airport bottle filler.
jberryhill
(62,444 posts)You wouldn't want to fill your bottle from the bottle filling station, but if given the choice you would rather fill it from the urinals?
Different strokes for different folks, I guess.
Dave Starsky
(5,914 posts)You're right, of course.
You seem like someone who should try to relax more. Maybe all that air travel is getting to you. Crying babies, stale pretzels, jet lag, and all that. I understand. Anyone would develop a hair-trigger temperament after a few years of dealing with that.
jberryhill
(62,444 posts)I'll just unwind with a tall glass of airport urine!
Dave Starsky
(5,914 posts)I'll be here all week. Tell your friends, try the chicken parmesan, and please remember to tip the wait staff!
BumRushDaShow
(129,064 posts)jberryhill
(62,444 posts)I understand they fly for free too.
BumRushDaShow
(129,064 posts)As long as they remain in their seats in a folded position.
Submariner
(12,504 posts)so I think I have just resorted to buying it, because business travel expenses have picked up the tab.
Retirement has just ended my business reimbursements, so now it's time to save a few bucks by packing along my own bicycle bottle to top-off at those refill stations. Thanks for tip.
jberryhill
(62,444 posts)Is that it comes in handy for all sorts of things.
Get a carabiner, put a knot in it, and it clips onto the seat back pocket for your own cup holder.
(or, put some powdered drink mix in it before you leave home if you'd rather)
DirtEdonE
(1,220 posts)Their warehouse used to be at the top of Paterson Plank Rd. back then. What a mess. They were one of the biggest magazine distributors but you'd never think, looking at their warehouse, that they were anything but some kind of paper recycling operation.
https://en.wikipedia.org/wiki/Robert_B._Cohen
SeattleVet
(5,477 posts)TexasBushwhacker
(20,192 posts)Unless Pecker decides to hang onto them for future extortion.
tinrobot
(10,903 posts)Oh how the mighty have fallen...
BumRushDaShow
(129,064 posts)given the circumstances of late....
kimbutgar
(21,155 posts)Another source of revenue for their bookstores. I just hope they get the contents of those locked up stories in the safe!
samnsara
(17,622 posts)jmowreader
(50,559 posts)And since about the only thing the Enquirer is good for is killing time on airplanes, it's not all that bad of a purchase for Hudson.