National Enquirer for sale, sold by embattled publisher American Media LLC.
American Media Inc., the parent company of the longtime tabloid the National Enquirer, says it wants to sell the newspaper and others in its portfolio.
Lawyers for American Media have been locked in a battle with Amazon founder Jeff Bezos, who accuses them of “extortion,” over an article that detailed his relationship with Lauren Sanchez, a former Los Angeles news anchor.
“We have been keenly focused on leveraging the popularity of our celebrity glossy, teen and active lifestyle brands while developing new and robust platforms including broadcast and audio programming, and a live events business, that now deliver significant revenue streams,” said American Media President and CEO David J. Pecker in a statement.
The company said its board made the decision to sell the National Enquirer, Globe and National Examiner brands. Beyond the Enquirer, American Media also owns less controversial titles like Us Weekly, and Men’s Journal.
“Because of this focus, we feel the future opportunities with the tabloids can be best exploited by a different ownership,” Pecker said.
Pecker is a vocal supporter of President Donald Trump and has admitted to paying $150,000 to a former Playboy model who alleged an affair with Trump to keep the matter quiet. ”
According to The Washington Post, AMI has been struggling financially, due to declines in the Enquirer’s circulation and increasing debt, with some 218,000 average copies selling weekly in December, compared to 516,000 in 2014.
Last week, Bezos, owner of the Post, and his ex-wife, novelist MacKenzie Bezos, announced that they are in the process of finalizing their divorce.