American Media Troubles Continue!

Well, American Media is not out of the woods just yet.

The embattled publisher of Star magazine, The National Enquirer, Shape and Men’s Fitness, has once again gotten an extension to try to work out a deal to turn over control of the company to bondholders and avoid bankruptcy or liquidation, according to the New York Post.  The new deadline to work out an agreement is 11:59 p.m. on Jan. 26, according to the report.

Keith Kelly is also reporting that CEO David Pecker is negotiating around-the-clock to save his job and his company, and is apparently still cutting staff across the board.