| Type | Private |
|---|---|
| Industry | Media |
| Founded | 1936 |
| Headquarters | Boca Raton, Florida |
| Key people | Roger Altman David J. Pecker, CEO Joe Weider (Weider Publications) |
| Products | Newspapers Magazines |
| Revenue | $1.597 billion USD (2006) |
| Employees | 3,160 (2006) |
| Website | americanmediainc.com |
American Media, Inc., is a publisher of a number of major United States-based magazines and supermarket tabloids.
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The modern American Media came into being after Generoso Pope, Jr., longtime owner of The National Enquirer, died in 1988, and his tabloids came under new ownership. American tabloids began consolidating in 1990, when American Media bought Star from Rupert Murdoch. The purchase of Globe Communications (owner of the Globe and the National Examiner) followed nine years later.
American Media's corporate headquarters in Boca Raton, Florida, figured prominently in news headlines in late 2001, after an anthrax attack was perpetrated on the company. Since then the corporate headquarters have moved to New York City at 1 Park Avenue in Manhattan. The CEO, David J. Pecker, now travels between the Boca Raton and New York office while managing the company.
AMI continued to expand after it bought Joe Weider's Weider Publications in 2002. Joe Weider continues to manage control of his magazines under AMI's Weider Publications subsidiary.
American Media also owns Distribution Services, Inc., an in-store magazine merchandising company.
Roger Altman, through Evercore Partners, bought a controlling stake in American Media in 1999.[1] In 2009, American Media was taken over by its bondholders to keep it out of bankruptcy.
In November 2010, American Media filed for Chapter 11 bankruptcy protection due to nearly $1 billion in debt, and assets of less than $50,000. Its subsidiary, American Media Operations Inc., listed assets of $100 to $500 million and debt of over $1 billion.[2] It exited in December.
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