Before Bezos Fight, Enquirer Publisher AMI Faced Steep Losses
The publisher of the National Enquirer, currently under attack by Amazon.com Inc. founder Jeff Bezos, has been facing steep financial losses that have left the once-loyal keeper of Donald Trump’s secrets with more than $1 billion in debt and a negative net worth.
The closely held American Media Inc. -- led by the president’s longtime friend, David Pecker -- recorded a $31.5 million loss in the six months that ended Sept. 30, according to documents reviewed by Bloomberg. That marked an improvement over the previous year, but nonetheless brought the company’s total losses over the last 5 1/2 fiscal years to $256 million. AMI owed about $203 million more than its assets were worth.
Adding to the troubles for Pecker and his New York-based publishing company is the wrath of Bezos. The billionaire wrote in a blog post last week that he was blackmailed by the tabloid, which allegedly threatened to publish sexually suggestive photos from an extramarital affair. The exchange followed a 12-page spread in the Enquirer last month full of racy text messages that he reportedly sent to his paramour.
Bezos, the world’s richest person, has the resources to fight. On Monday alone, his wealth increased by a bigger dollar figure than all of AMI’s revenue for the first half of this fiscal year.
There's gotta be a Lorena Bobbitt joke somewhere. Somebody, make it happen.
Why would you **** with the world's richest man? He can bury their asses.
Poor poor Mr Pecker has a bit of a problem it would appear. Do you think Donald might loan him a couple dollars?
Bezos will buy the enquirer and the first cover will beWhy would you **** with the world's richest man? He can bury their asses.
Looks like Pecker really gave AMI’s finances the shaft.
Why would you **** with the world's richest man? He can bury their asses.
Yeah, that is a bit of a problem for Pecker and the hedge fund guys who are presently funding his little media scam. Think about this -- In one day, Bezos wealth will increase more than all of AMI’s revenue for the first half of this fiscal year.
The more billions a person has, the more the Democratic Party loves that person.
The more billions a person has, the more the Democratic Party loves that person.
The more billions a person has, the more the Democratic Party loves that person.
Poor poor Mr Pecker has a bit of a problem it would appear. Do you think Donald might loan him a couple dollars?
I read that Pecker sank all his funds into the Bezos investigation and that it was his hope that the investigation was going to be his saving grace [in trumps eyes].
And yet another person who gets involved with Trump ends up getting screwedWell, IMO, he should have directed his resources to something that restored the revenue stream of the magazine/paper he owns and that saw its subscriptions drop from ~3 million to ~265K.
- 2015 -- National Enquirer publisher makes profit, despite revenue dip
- Aug 2018:
The National Enquirer has long explained its support for Donald Trump as a business decision based on the president’s popularity among its readers. But private financial documents and circulation figures obtained by The Associated Press show that the tabloid’s business was declining even as it published stories attacking Trump’s political foes and, prosecutors claim, helped suppress stories about his alleged sexual affairs.
The Enquirer’s privately held parent company, American Media Inc., lost $72 million for the year ending in March, the records obtained by the AP show. And despite AMI chairman David Pecker’s claims that the Enquirer’s heavy focus on Trump sells papers, the documents show that the Enquirer’s average weekly circulation fell by 18 percent to 265,000 in its 2018 fiscal year from the same period the year before, the greatest percentage loss of any AMI-owned publication. The slide follows the Enquirer’s 15 percent circulation loss for the previous 12 months, a span that included the presidential election.
The Enquirer’s privately held parent company, American Media Inc., lost $72 million for the year ending in March, the records obtained by the AP show. And despite AMI chairman David Pecker’s claims that the Enquirer’s heavy focus on Trump sells papers, the documents show that the Enquirer’s average weekly circulation fell by 18 percent to 265,000 in its 2018 fiscal year from the same period the year before, the greatest percentage loss of any AMI-owned publication. The slide follows the Enquirer’s 15 percent circulation loss for the previous 12 months, a span that included the presidential election.
-- Xelor, Post 17 [emphasis by Sangha]
And yet another person who gets involved with Trump ends up getting screwed
Why are so many of Trump's good friends absolute goons.
I'm not asserting a cause and effect relationship here. Just noting that everything Trump touches seems to turn to ****.AMI/Pecker appears to be "screwed" and Pecker is involved with Trump; that much is so. However, your above remark, given your emboldening of my remarks, implies a causal relationship that is harder to soundly/credibly demonstrate than is gained by doing so, even if doing so is possible.
As goes the Enquirer's circulation decline, I don't know that it has a causal correlation to Trump. The publication's circulation has been tumbling for years. The Enquirer is, in that regard, little different than the publishing industry as a whole. In 2007, Enquirer circulation was 1M and by 2010, it was ~730K.
I doubt Trump has a damn thing to do with that. It's not as though he is or was a key player in the Internet's expansion and "usurpation" of print media.
I'm not asserting a cause and effect relationship here. Just noting that everything Trump touches seems to turn to ****.
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