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AMI Files For Bankruptcy!

| Filed under: Icky Icky PooBusiness Blitz

american-media-inc-files-for-chapter-11-bankruptcy

Another one bites the dust!

American Media Inc., which is the parent company of The National Enquirer and Star magazines, as well being in charge of all non-editorial functions involving Playboy magazine, has filed for Chapter 11 bankruptcy while it reorganizes!

According to reports:

“The Boca Raton, Florida-based publisher listed assets of less than $50,000 and debt of as much as $1 billion in its Chapter 11 filing today in U.S. Bankruptcy Court in Manhattan. A separate petition of operating subsidiary American Media Operations Inc.’s lists assets of $100 million to $500 million and debt of more than $1 billion. It terminated a previously proposed debt-exchange offer and announced on Nov. 1 that it would undertake a pre-packaged Chapter 11 filing."

Chairman and chief executive David Pecker said in a statement:

"The company is engaging in this strategy from a position of financial strength and confidence.”

Wow!

Seems like that at least have some sort of plan, though!

Best of luck!

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6 comments to “AMI Files For Bankruptcy!”



  1. 1

    Wow, I guess nobody is buying that mag anymore even though I thought they won an award a while back, or were up for an award a while back. Oh well.



  2. 2

    In this time of recession why buy the National Enquirer or Star when you can get the same trash info from Perez.com. (LOL)



  3. 3

    THE NATIONAL ENQUIERER IS PURE SHIT NEWS ANY OF THENM ARE TRUE. ALMOST LIKE YOUR CRAPY SITE PEREZITA, IF YOU DONT MAKING SOME CHANGES NOW YOU WILL BE NEXT … AND YOU GOING TO SELL HOT DOGS IN THE STRES OF HOLLYWOOD OR PROSTITUD YOU SELF LIKE A FAT DISGUSTING WHORE. >>>>HEY EVERYONE THIS SUNDAY IS THE AMERICAN MUSIC AWARDS AND THE MOST ANTICIPATED PERFORMANCE OF THE NIGHT >>>>XTINA



  4. 4

    Thank god I hate these trash magazines that spread lies this is what they deserve I hope they never make it out. Perez take a lesson from this because you are guilty too of spreading lies you never check you facts or ur sources!



  5. 5

    This wont intefere with their operation for one second. They'll write off $1B in debt & continue to wrack up debt.



  6. 6

    Re: gerry in sf – Amen to that! They are losing money because I used to buy that just to read on my way to work and at lunch!
    Sorry but now I get the same information free!