American Media is reportedly near broke reports the New York Post.
“The publisher of Star Magazine and The National Enquirer faces an insurmountable cash crunch next February unless it re-negoitates $415 million worth of junk bonds.”
Bonnie Fuller, who two weeks ago left American Media, is learning that finding backers to finance her latest attempt at reinvention isn’t so easy, reports the New York Post.
Fuller was trying to hook up with 3i, a global private-equity and venture-capital firm with more than $5.6 billion in assets, which counts media as one of the eight industries on which it focuses. However, that venture might have fizzled even before it got off the ground.
So where’s Bonnie now?
(NYP)
WHAT’S MORE SHOCKING? THIS RECENT DAVID PEREL NATIONAL ENQUIRER COVER OR…
David Pecker getting one more year heading up American Media, the company that publishes this CRAP the National Enquirer?
Despite AMI’s financial woes, Pecker gets one more year (at least) with an annual base salary of $1.5 million, a possible annual cash bonus of up to $250,000, as well as country club dues, membership fees and car and driver expenses, according to a stunning report in WWD.
David, can I join you for a round of golf or at least borrow your driver for the weekend?
