Monday, June 13, 2011

National Enquirer Parent Company Shopping Itself?

Sept. 8, 1963 National EnquirerImage via WikipediaAccording to a story in today's New York Post, American Media, Inc.(AMI), parent company of supermarket tabloids The National Enquirer and Star Magazine, as well as other journals, including Muscle & Fitness and Radar Online, is looking for a buyer.

The Post claims private equity firm Apollo Management is kicking the tires. Apollo declined to respond to inquiries by the Post, but speculation remains the firm might consider snatching up AMI and combining it with its recent acquisition of CKX, which owns American Idol.

AMI emerged from a pre-packaged Chapter 11 bankruptcy filed in U.S. Bankruptcy Court for the Southern District of New York [In re American Media, Inc., 10-BK-16140] in late 2010 (see "TUOL" post 11/17/10).  "TUOL" is hopeful that the National Enquirer's current owner holds out until it either is purchased by space aliens or adopted by Madonna or Angelina Jolie.

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