August 30, 2018 at 10:35 am #39153
WASHINGTON (AP) — 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 magazines, 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.
More broadly, the documents obtained by the AP show that American Media isn’t making enough money to cover the interest accruing on its $882 million in long-term debt and that the company expects “continued declines in circulation and advertising revenues” in the current year. That leaves AMI reliant on debt to keep its operations afloat and finance a string of recent acquisitions that are transforming the tabloid news industry.
That creditor backstopping AMI is a New Jersey investment fund called Chatham Asset Management. Its top executive dined with Pecker and Trump at the White House last year, and the fund has both a history of Republican political donations and ties to the administration of former New Jersey Gov. Chris Christie, which awarded it hundreds of millions of dollars in state retirement funds to manage.August 30, 2018 at 12:09 pm #39158
AMI filed for re-organisation December last year. So have other print publishers who are bleeding red.
Why does every story have to include Trump? It’s a sickness.August 30, 2018 at 12:46 pm #39163
Yeah, the apparent fact that AMI was paid by Trump to bury unflattering stories about our now-president is irrelevant! FAKE!August 30, 2018 at 12:48 pm #39164
What I find shocking is people actually read that fishwrap. Somehow I find that decreases my faith in humanity a little bit.August 30, 2018 at 12:57 pm #39166
Apparently people aren’t reading it, given their current dire financial situation.August 30, 2018 at 1:25 pm #39169
” the apparent fact that AMI was paid by Trump…”
Um…Fact is the National Enquirer and National Examiner, both AMI publications, make more money sup press ing some stories than printing them. Not just Trump. Practice goes back to the Hearst days over a century ago. Maybe longer.
RosebudAugust 30, 2018 at 3:48 pm #39180
Um. Well, ok then. Nothing to see read or hear here. Moving along. 😉August 30, 2018 at 4:02 pm #39181
What’s with the spaces in the word “suppressing”?
Who’s “Rosebud”?August 30, 2018 at 5:46 pm #39187
“Rosebud” is purported to be the last word the protagonist, William Randolph Hearst, says on his death bed. Motion picture is in black and white so you may not want to watch it.
“He’s not a who but more of a what.”August 30, 2018 at 6:14 pm #39188
black and white so you may not want to watch it.
I’d like to know what motivated you to make that assumption.August 31, 2018 at 1:31 am #39193
“Rosebud” is purported to be the last word the mythical protagonist, Charles Foster Kane, says on his death bed in “Citizen Kane”, a movie that borrows heavily from the life of William Randolph Hearst. Any connection to Rosebud(the world’s most famous sled)with Hearst is unknown to me.August 31, 2018 at 8:24 am #39194
“Rosebud” (the sled) is a fictional plot device for the movie only. However, it was rumored at the time that “Rosebud” was Hearst’s nickname for a particular part of his mistress’s anatomy. Clearly Wells liked pushing boundaries and ruffling feathers in his younger days.August 31, 2018 at 9:43 am #39195
The cuckoo clock.September 1, 2018 at 11:19 am #39214
to make that assumption.
May and might are speculative verbs and are not descriptive.
American English is my second language and I know better it than you.
What goes around comes aroundSeptember 1, 2018 at 4:15 pm #39221
“In Italy for 30 years, the Borges, they had warfare, terror, blood shed. But they produced Michaelangelo, Leonardo DaVinci and the Renaissance.
In Switzerland, they had brotherly love and 500 years of democracy and peace. And what did that produce? The cuckoo clock.”
The Third Man – 1949
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