American Media, Inc. profile and media properties
David J. Pecker is the CEO of American Media, Inc..
American Media is the leading publisher of weekly tabloid newspapers in the United States. Publications include the National Enquirer and Star, which are distributed mainly in supermarkets and focus on gossip and sensational personal stories rather than conventional news coverage.
The National Enquirer evolved from a former New York City tabloid newspaper, the New York Evening Enquirer. Generoso Pope Jr. bought the New York Evening Enquirer in 1952 for $75,000 and renamed it the National Enquirer in 1957. Pope's father was said to have ties to New York crime boss Frank Costello, and Costello was the godfather of the younger Pope. Pope turned the National Enquirer into a celebrity scandal and gore sheet, and by the mid-1960's the paper was highly profitable and its circulation was nearly a million copies. He toned down the blood and guts after 1967 in order to gain distribution in supermarket check-out lines. Supermarket distribution was a great success for sales of the National Enquirer, which had single-copy sales as high as six million in the 1970s. Generoso Pope Jr. died in 1988, and in 1989 his heirs sold the Enquirer to the company that would become American Media.
As a result of actual and threatened libel suits by celebrities, the Enquirer has taken greater care in checking and verifying the details of the celebrity exposes it publishes. American Media president David Pecker has said that "in the tabloid business, you pay for sources. But we have two former FBI agents on staff, and no source gets a check for $10,000, or even $1, without getting polygraphed. We also get three independent sources for all of our (National Enquirer and Star) stories. The New York Times runs one-source stories."
American Media also publishes a range of "mini-mags" on topics which include food, health and relationships.
Publishing industry veteran David Pecker, Thomas H. Lee Partners and Evercore Partners bought American Media in 1999 for $850 million. In 2003 American Media bought health and fitness magazine publisher Weider Publications, publisher of Shape Magazine, Muscle & Fitness and others, for $350 million.
In early 2009, American Media had about $1.1 billion in debt. The company barely avoided bankruptcy by agreeing to transfer ownership of 95 percent of AMI’s common stock to bondholders. As a result, the company's debt was reduced by $227 million.
In July 2010, American Media agreed to another debt for equity swap with most of its bondholders. After the transaction, AMI's debt will be reduced by $200 million and its leverage reduced from 7.2x to 5.1x. AMI Chairman, President and CEO David J. Pecker said, "I am very grateful to our bondholders for having the confidence and faith in AMI to consummate this transaction."
On November 17, 2010, American Media filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of New York. The company said it had debts of between $500 million and $1 billion, and assets of less than $50,000. The reorganization plan for the company will result in it being owned by its bondholders, including Capital Research and hedge funds Angelo Gordon & Co. and Avenue Capital Group.
Contact Information
| Web Site: | www.americanmediainc.com/ |
| Telephone: | 561.997.7733 |
| Fax: | 561.272.8411 |
| Address: | 4950 Communication Drive Boca Raton FL 33431 |
Media Subsidiaries
National Media Properties
Select a media outlet to find a detailed profile at Mondo Times, the worldwide news media guide.
| Auto World Magazine |
| Country Weekly Magazine |
| Globe Magazine |
| Mira! Magazine |
| National Enquirer |
| National Examiner Magazine |
| OK! Magazine |
| Radar |
| Star Magazine |
Other American Media, Inc. Properties
Comments about American Media, Inc.
Comments to date: 207. The most recent comments are below.Teresa Window Rock, AZ | Posted at 11:19am on Thursday, February 2, 2012 |
My 87 year old mother who is doesn't get around that much any more has finished her last Secret Word book. For months I have been looking in the stores for these so I got on line and low and behold, they are no longer published? OMG!!! We get screwed enough by Congress and now you? Please, please, PLEASE won't you bring these back? | |
Jo-Ann Wahl Harrisburg, PA USA | Posted at 9:46am on Thursday, February 2, 2012 |
I see others are looking for the Mystery Word mini books, too. My grandson and I really miss them. Will you be publishing them again and putting them back in the grocery stores and drug stores? | |
Denise Magoon Bemidji, Mn | Posted at 4:54pm on Wednesday, February 1, 2012 |
Ditto to all the above comments. I don't see any answers. Where could I order a subscription? I keep one in my purse for the down times so I'm not totally bored. | |
sharon mason. Tn | Posted at 10:20pm on Thursday, January 5, 2012 |
I enjoyed reading the qtr personal horoscope guide. I have search everywhere for them. Please put them back in the stores. I have also search in Ms.and Ala. Thanks | |
Carol Naperville,Il | Posted at 8:59am on Tuesday, December 6, 2011 |
I found 1 secret word mini mag at K-Mart recently.It was the only one there and when I got home discovered it was 1 that I already had.But I too have been looking for them. | |
Claudette Vallarsa Casselman, Ontario, Cana | Posted at 12:43pm on Friday, December 2, 2011 |
I too have been looking for the Secret Word mini puzzles but to no avail....I would be interested in getting a subscription to it if possible! Thanks | |
Jacqueline Torres New Jersey, USA | Posted at 11:04am on Tuesday, November 22, 2011 |
I always got the mini word search magazines in my local acme store. I would buy a few at a time -so I have two left but still soooo disappointed that I can't buy them anymore. If anyone finds out anything new about the magazine and where we can get them -please let us kno. Thank you in advance :). | |
Carolyn Culbertson Redding, CA USA | Posted at 5:24pm on Tuesday, November 15, 2011 |
All I can find in these (I imagine) hundreds of questions and pleas are little articles stating that Dr. Esposito is now responsible for AMI's operations (which I imagine is in charge of the Secret Word Mini Mag, Secret Word Mini Mag, etc). There has been no response made as to whether these mini books are even being published anymore! Can't Dr. Esposito see from all theses notes from all over the country that he had a small gold mine in these little books? I too would buy all the new mags that came out. They stayed in a special pocket in my purse for when my husband and I were waiting for any length of time whether in a cafe, Doctor's office, or whatever. This is something that we became addicted to years ago and now they can't be found any more. So I am asking point blank....are you publishing these little Secret Word and Mystery Word mini books anymore? If they are not being sold in stores, can a person get a subscription for them? Please please Dr. Esposito---re-evaluated what you thought was a waste of money and bring back what hundreds of thousands of people have become accustomed to and want! | |
Beverly Morrelles So. Charleston, WV USA | Posted at 3:25am on Thursday, November 3, 2011 |
I too have been seaching in all the stores for the mini mag puzzle books. I keep them in the car for stuck in traffic, waiting for husband to return to car, and other times when I like to be busy. Good for the brain to keep busy. Help. Where are these wonderful mini puzzles books. | |
Vickie Hamilton Memphis, Tn. | Posted at 5:08pm on Monday, October 17, 2011 |
I enjoyed the small magaz. of my horoscope every qtr., since Schnucks closed all the stores here recently, u cannot buy the small books anywhere. Would u consider selling them at the Mapco gas stations here, I shop at Kroger & I asked if they can carry the magaz. last wk, well it is not in the store this wk., my horoscope was sometimes accurate to, will u pls start publishing it again? | |
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