American Media Inc. is looking to unload three of its tabloid magazines, including the National Enquirer, following a scandal-filled year for the publication.
AMI CEO David Pecker confirmed on Wednesday that the Enquirer, Globe, and National Examiner are for sale, following The Washington Post's report that AMI's controlling shareholder, Chatham Asset Management, wants to cut ties with the tabloids. A person familiar with the matter told the Post the firm's hedge fund manager is "disgusted" by the way the Enquirer operates.
The Enquirer has long been known for employing shady tactics; in 1977, it put a picture showing Elvis Presley in his coffin on the cover. After the Enquirer published an article earlier this year about his extramarital affair, Amazon CEO Jeff Bezos accused the magazine of trying to extort him. Pecker, one of President Trump's longtime friends, also admitted late last year to a "catch and kill" deal with Playboy model Karen McDougal, who said she had an affair with Trump. AMI bought the rights to her story in 2016, then never published it, in order to prevent the possible scandal from influencing the presidential election.
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