American Media (publisher)

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American Media, Inc.
Type Private
Industry Media
Founded 1936
Headquarters New York City, US
Key people Roger Altman
David J. Pecker, CEO
Joe Weider (Weider Publications)
Products Newspapers
Magazines
Revenue $1.597 billion USD (2006)
Employees 3,160 (2006)
Website www.americanmediainc.com

American Media, Inc. is an American publisher of magazines, supermarket tabloids, and books.

Company background[edit]

The modern American Media came into being after Generoso Pope, Jr., longtime owner of The National Enquirer, died in 1988, and his tabloids came under new ownership. American tabloids began consolidating in 1990, when American Media bought Star from Rupert Murdoch. The purchase of Globe Communications (owner of the Globe and the National Examiner) followed nine years later.

American Media is not to be confused with American Media Distribution the international news coverage firm. American Media's corporate headquarters in Boca Raton, Florida, figured prominently in news headlines in late 2001, after an anthrax attack was perpetrated on the company. Since then the corporate headquarters have moved to New York City at 1 Park Avenue in Manhattan, before moving to the Financial District to the former JP Morgan Chase headquarters at 4 New York Plaza. That building was severely damaged by Hurricane Sandy but reopened in February 2013. The CEO, David J. Pecker, travels between the Boca Raton and New York offices while managing the company.

AMI continued to expand after it bought Joe Weider's Weider Publications in 2002. Joe Weider continues to manage control of his magazines under AMI's Weider Publications subsidiary.

American Media also owns Distribution Services, an in-store magazine merchandising company. In fall 2002, it launched the book-publishing imprint, AMI Books.[1]

Roger Altman, through Evercore Partners, bought a controlling stake in American Media in 1999.[2] In 2009, American Media was taken over by its bondholders to keep it out of bankruptcy.

In November 2010, American Media filed for Chapter 11 bankruptcy protection due to nearly $1 billion in debt, and assets of less than $50,000. Its subsidiary, American Media Operations Inc., listed assets of $100 to $500 million and debt of over $1 billion.[3] It exited in December.

In May 2014, American Media announced a decision to shift the headquarters of the National Enquirer from Florida, where it had been located since 1971, back to New York City, where it originally began as The New York Enquirer in 1926.[1]

Publications[edit]

Divisions[edit]

  • Distribution Services, Inc.
  • AMI Books

References[edit]

  1. ^ Milliot, Jim (August 4, 2003). "American Media to Expand Book Program". Publishers Weekly 250 (31). Archived from the original on February 29, 2012. 
  2. ^ The Clintonite who owns National Enquirer Ben Smith, Politico, October 11, 2007
  3. ^ "'National Enquirer' Publisher Files for Chapter 11". Bloomberg Businessweek. 17 November 2010. 

External links[edit]