Posted on 12/10/2008 2:22:50 PM PST by Free ThinkerNY
American Media Inc. — publisher of the National Enquirer and Star magazine — is near bankruptcy after missing a Dec. 1 deadline to make a $21 million interest payment on its $1.1 billion debt.
The company has retained bankruptcy lawyers, sources told the New York Post’s “Media Ink” columnist Keith Kelly.
But a bankruptcy filing may be avoided if bondholders agree to take a large stake in the company in return for reducing its debt load.
(Excerpt) Read more at newsmax.com ...
More Dinosaur Media Going Down!!!
Too bad. They seem to be the only rag doing any actual investigative reporting.
Heck, NI was the only rag that still had some factual content....
NE even
ROFL< goodbye to Sensational Hype and no telling what we’ll get next.
Weren’t they taken private by Clintonite Roger Altman? And isn’t it odd that all these media firms just managed to hold on til past the election?
In all seriousness - wouldn’t their target demographic probably even have less disposable income these days? Makes sense...
Heavens no!...what to do at the checkout line...any options?
They can get Carol Burnett to sing, “I’m so glad we had this time together”.
Yes, and at lot of the timing of things seems rather odd. Sometimes it almost looks like the sheeple are being herded by the MSM and their controllers.
And it was the National Enquirer that took out John Edwards, another Dem presidential candidate, with their expose of his mistress and baby. Not that I liked Edwards, of course...
Friends of billandhill going bankrupt.
Hmmnn. Just a reoorganization so as not to pay their bills?
***ROFL< goodbye to Sensational Hype and no telling what we’ll get next.***
Remember the good old days of the 1950’s when Nat’l Enquirer published stories about blood and guts! “I CUT OUT HER HEART AND ATE IT!” Sensational murders with blood dripping contents! Photos of people run over by trains hacked to death, burned to death, photos of whole families muirdered by hichhikers, ect.
And who can forget the STAR magazine when the headline, in three inch high letters, was JEAN DIXON SAYS NIXON WILL NOT RESIGN! It hit the news stands on the very day Nixon resigned.
The NE has gone into the Hollywood star junk of late. Not as many good stories of Monsters, ghosts and UFOs anymore. I don’t need to see any more pictures of overage stars in Bikinis. More investigations might save the NE. We will need them in Obama’s America.
Hilarious! That paper has published more fake affairs than Hugh Hefner..ROFLMTO
Wahoo!
Yes, they broke too many stories about clinton, so he had Altman take over ALL of the tabloids. So I imagine their whole empire must be in trouble.
I presume that hillary OK'd the story about Edwards' mistress, to get him out of the way.
No! Say it ain’t so! One of my first memories of the NE was in a drugstore and it showed something like a kid on a bike crushed under a car or truck. Nice big B&W photo on the front page.
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