AMI and National Enquirer have other problems besides Jeff Bezos' wrath


Emails from American Media Inc. officials apparently threatening Amazon founder Jeff Bezos with extortion and blackmail have put AMI and its chief executive, David Pecker, in potential hot water with federal prosecutors as well as the AMI board. Threatening the richest man in the world — in writing — may not have been the smartest move, but AMI was already in dire straits, Bloomberg reported Tuesday: Years of "steep financial losses" have left "the once-loyal keeper of Donald Trump's secrets with more than $1 billion in debt and a negative net worth."
Over the past few years, a "borrowing binge" by AMI has "swelled its debt load to more than $1.3 billion," Bloomberg said. Investment firm Chatham Asset Management owns an 80 percent stake in AMI, thanks to a financial lifeline thrown to Pecker in 2014, and despite efforts to butter up Saudi Arabia's leaders, "there is no direct investment in the company's debt or equity by the Saudis," AMI Chief Financial Officer Chris Polimeni said, adding that AMI's financial picture is improving.
In some ways, the National Enquirer simply ran into the same market forces that have buffeted all print media, Joe Pompeo says at Vanity Fair. "Circulation was on the decline — it is now reportedly south of 300,000, down from a peak of around 6 million a week in the late 1970s — and AMI was running into financing troubles that it continues to grapple with today." But the whole Bezos affair "has stunned battle-hardened tabloid veterans who thought they'd seen it all," Pompeo adds, making them wonder why AMI was so desperate to get Bezos to publicly state hacking his texts wasn't tied to politics.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
"The history of tabloid journalism is rife with all sorts of behind-the-scenes deals," George Rush, former Daily News gossip columnist, told Pompeo. "But to put that offer so bluntly and brazenly, to a man who has the intelligence and power to impale you on your own sword, was stupid."
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
The Week contest: Marriage pounds
Puzzles and Quizzes
By The Week US Published
-
Today's political cartoons - March 27, 2025
Cartoons Thursday's cartoons - group chats, language lessons, and more
By The Week US Published
-
Playhouse Creatures: 'dream-like' play is 'lively, funny and sharp-witted'
Anna Chancellor offers a 'glinting performance' alongside a 'strong' supporting cast
By The Week UK Published
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
By Justin Klawans, The Week US Published
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
By Peter Weber, The Week US Published
-
What's Jeff Bezos' net worth?
In Depth The Amazon tycoon and third richest person in the world made his fortune pioneering online retail
By David Faris Published
-
Amazon's 'James Bond' deal could mean a new future for 007
In the Spotlight The franchise was previously owned by the Broccoli family
By Justin Klawans, The Week US Published
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
By Peter Weber, The Week US Published
-
Chinese AI chatbot's rise slams US tech stocks
Speed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
By Peter Weber, The Week US Published
-
US port strike averted with tentative labor deal
Speed Read The strike could have shut down major ports from Texas to Maine
By Peter Weber, The Week US Published
-
Biden expected to block Japanese bid for US Steel
Speed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
By Peter Weber, The Week US Published