Publish date:

National Enquirer Owner Gets New Financing and Time for Turnaround

National Enquirer is far from its glory days when a cover photo of Elvis Presley in his coffin in 1977 sold 6.7 million copies.
Author:

National Enquirer is far from its glory days when a cover photo of Elvis Presley in his coffin in 1977 sold 6.7 million copies. It has gone through some hard times, but now two funds have opted to help the magazine's parent company, American Media, with refinancing that values it at $515 million. But that comes at a price. Though American Media CEO David Pecker said he was happy with his new ability to effect a turnaround, there's also the fact that he will have to overcome declining trends in the publishing industry with a new digital strategy. Under the recapitalization deal, two bondholders will take over the company.

TheStreet Recommends