A360media
This article needs to be updated. (August 2021) |
A360 Media, LLC (branded a360media), formerly American Media, Inc. (AMI), is an American publisher of magazines, supermarket tabloids, and books based in New York City. Originally affiliated with only the National Enquirer, the media company's holdings expanded considerably in the 1990s and 2000s. In November 2010, American Media filed for Chapter 11 bankruptcy protection due to debts of nearly $1 billion, but has continued to buy and sell magazine brands since then.
| a360media | |
| Type | Private |
| Industry | Media |
| Founded | 1936 |
| Headquarters | New York City, U.S.[1] |
Key people | Anthony Melchiorre (owner) Roger Altman |
| Products | Newspapers Magazines |
| Owner | Chatham Asset Management, LLC Omega Charitable Partnership, L.P. |
Number of employees | 3,160 (2006) |
| Website | AmericanMediaInc.com |
AMI has been in the news affiliated with accusations of catch and kill operations. On December 12, 2018, the U.S. Attorney's Office reported that AMI admitted to paying $150,000 to Karen McDougal in concert with a candidate's presidential campaign for the sole purpose of preventing damaging allegations prior to the 2016 US presidential election.[2][3]
According to its September 2018 non-prosecution agreement with Southern District of New York federal prosecutors, AMI "shall commit no crimes whatsoever" for three years, otherwise "A.M.I. shall thereafter be subject to prosecution for any federal criminal violation of which this office has knowledge."[4]
On April 10, 2019, Chatham Asset Management, which controls 80 percent of AMI's stock, forced AMI to sell the National Enquirer.[5][6] This came after Chatham owner Anthony Melchiorre, who AMI has also relied on for survival, expressed dismay over the tabloid magazine's recent scandals involving hush money assistance to U.S. president Donald Trump's 2016 campaign and blackmail of Jeff Bezos.[5][6] On April 18, 2019, AMI agreed to sell not only the National Enquirer, but two of its other publications, Globe and National Examiner, to Hudson News Distributors.[7][8]
In August 2020, Chatham Asset Management, AMI's owning holding company, announced it would merge AMI with Accelerate 360, a wholesale distribution company it also owned. As part of the merger, AMI was officially renamed A360 on October 1.[9]
In February 2023, A360media agreed to sell the National Enquirer to VVIP Ventures, a joint venture of the digital media company Vinco Ventures and a new company set up for the purchase, Icon Publishing.[10]
History edit
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.[11] Roger Altman, through Evercore Partners, bought a controlling stake in American Media in 1999.[12]
American Media is not to be confused with American Media Distribution, the international news coverage firm. American Media's former corporate headquarters in Boca Raton, Florida, figured prominently in news headlines in late 2001, after an anthrax attack was perpetrated on the company[13] and other media outlets.[14] Since then the corporate headquarters have moved to New York City at 1 Park Avenue in Manhattan, before moving to the Financial District to the former JP Morgan Chase headquarters at 4 New York Plaza. That building was severely damaged by Hurricane Sandy but reopened in February 2013.
AMI continued to expand after it bought Joe Weider's Weider Publications in 2002. Joe Weider continued to manage control of his magazines under AMI's Weider Publications subsidiary until his death in March 2013.[15][16]
American Media also owns Distribution Services, an in-store magazine merchandising company. In fall 2002, it launched the book-publishing imprint, AMI Books.[17]
2010s: Bankruptcy and continued acquisitions edit
In 2009, American Media was taken over by its bondholders to keep it out of bankruptcy.[18]
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.[19] Its subsidiary, American Media Operations Inc., listed assets of $100 to $500 million and debt of over $1 billion.[20] It exited in December.
In May 2014, American Media announced a decision to shift the headquarters of the National Enquirer from Florida, where it had been located since 1971, back to New York City, where it originally began as The New York Enquirer in 1926.[21] In August 2014, American Media was acquired by Chatham Asset Management and Omega Charitable Partnership.[22]
In 2015, American Media sold Shape, Natural Health, and Fit Pregnancy to Meredith.[23]
In 2016, Pecker revealed to the Toronto Star that AMI now relied on support from Chatham Asset Management and its owner Anthony Melchiorre.[24][6] The $4 billion hedge fund owns 80 percent of AMI's stock.[6]
In March 2017, American Media acquired Us Weekly from Wenner Media for a reported $100 million.[25] Three months later, in June 2017, American Media also acquired Men's Journal from Wenner Media.[26]
In June 2018, American Media acquired 13 brands from Bauer Media Group including In Touch Weekly, Life & Style and Closer to add to their celebrity portfolio. They also acquired Bauer Media's kids group including J-14 and Girl's World.[27]
In February 2019, American Media acquired TEN's adventure sports properties.[28]
In April 2019, the National Enquirer was reported to be up for sale and likely to be sold within days. The company stated that it had shifted its emphasis away from tabloids to its "glossy" magazines such as Us Weekly and Men's Journal.[29] This came following pressure from Chatham owner Anthony Melchiorre, who expressed disapproval of the Enquirer's style of journalism.[6][5] On April 18, 2019, AMI accepted an offer from Hudson News Distributors head James Cohen and agreed to sell not only the National Enquirer, but also Globe and The Examiner to Hudson News Distributors for $100 million.[7][8] At the time the sales were announced, AMI was approximately $355 million in debt.[30]
In 2022, A360 acquired single issue magazine publisher Centennial Media.[31] Also in 2022, A360 sold Men's Journal and the Adventure Sports Network properties to The Arena Group.[32]
edit
In late 2015, AMI paid $30,000 to Dino Sajudin, a doorman at Trump Tower, to obtain the rights to his story in which he alleged Donald Trump had an affair in the 1980s that resulted in the birth of a child. Sajudin in April 2018 identified the woman as Trump's former housekeeper.[33] AMI reporters were given the names of the woman and the alleged child, while Sajudin passed a lie detector test when testifying that he had heard the story from others. Shortly after the payment was made, Pecker ordered the reporters to drop the story.[34] In April 2018, AMI chief content officer Dylan Howard denied the story was "spiked" in a so-called "catch and kill" operation, insisting that AMI did not run the story because Sajudin's story lacked credibility.[35] On August 24, 2018, after AMI had released Sajudin from the contract, CNN obtained a copy of it and published excerpts. The contract instructed Sajudin to provide "information regarding Donald Trump's illegitimate child," but did not contain further specifics of Sajudin's story.[36]
Karen McDougal edit
In 2016, AMI paid Playboy model Karen McDougal $150,000 for exclusive rights to her allegations of a ten-month affair with Donald Trump—which she claimed happened in 2006–2007, when he was already married to Melania[37]—but AMI never published the story. AMI publicly acknowledged having made the payment after The Wall Street Journal revealed it days before the 2016 presidential election, but AMI denied that its purpose had been to "kill damaging stories about" Trump; instead, AMI claimed it had paid only for "exclusive life rights to any relationship [McDougal] has had with a then-married man" and "two years' worth of her fitness columns and magazine covers."[38][39] In March 2018, McDougal filed a lawsuit to invalidate the non-disclosure agreement she had with AMI.[40][41] A month later, AMI settled with McDougal, allowing her to speak about the alleged affair.[42] In August 2018, it was reported that AMI CEO/Chairman David Pecker and AMI chief content officer Dylan Howard were granted witness immunity in exchange for their testimony regarding hush money payments made by Donald Trump's then-personal lawyer, Michael Cohen, in an attempt to influence the 2016 presidential election.[43]
On December 12, 2018, the U.S. Attorney's Office announced its agreement with AMI. "AMI admitted that it made the $150,000 payment in concert with a candidate's presidential campaign," the press release said, so that Karen McDougal wouldn't "publicize damaging allegations about the candidate before the 2016 presidential election. AMI further admitted that its principal purpose in making the payment was to suppress the woman's story so as to prevent it from influencing the election." As a result of this agreement, AMI would not face prosecution and agreed to provide extensive assistance to prosecutors about the involvement of Trump and other politicians with the company.[2] The same press release also revealed that Michael Cohen had been sentenced to three years in prison for various crimes, including the $150,000 campaign finance violation—the facilitation of the payment to McDougal—to which he pled guilty on August 21, 2018.[44][45][46] AMI agreed to pay the Federal Election Commission a $187,500 fine in June 2021.[47]
Jeff Bezos blackmail edit
In January 2019, the National Enquirer broke a story about the extramarital affair of Amazon founder and Washington Post owner Jeff Bezos with Lauren Sánchez. Bezos began investigating how and why the information had been leaked to the National Enquirer.[48] President Trump has long expressed displeasure with Bezos,[49][50][51] and Trump's irritation may have increased due to the Washington Post's critical coverage of the murder (and the subsequent cover-up[52]) of one of its reporters, Jamal Khashoggi.[53] This, Bezos suspects, may have been the political motivation for someone to leak his affair to the tabloid.[54]
On February 7, 2019, Bezos shared emails that he had received the previous day[54] in which AMI sought a public statement from him and his lawyer "affirming that they have no knowledge or basis for suggesting that AM's coverage [of the sexual affair] was politically motivated or influenced by political forces, and an agreement that they will cease referring to such a possibility." AMI chief content officer Dylan Howard and his lawyer Jon Fine threatened Bezos, saying that if Bezos did not promptly meet their demands, AMI would publish selfies and sexts sent between Bezos and his girlfriend.[55] Bezos wrote that he would refuse to make this "specific lie" or to otherwise participate in this blackmail bargain that "no real journalists [would] ever propose."[54] "Of course I don't want personal photos published," Bezos added, but he said he chooses to "stand up, roll this log over, and see what crawls out."
That same day, The Washington Post published an article on the matter, quoting a former federal prosecutor who speculated that this news could undermine AMI's recent deal with the government. If prosecutors decide they must file new criminal charges against AMI, the government may not be able "to continue to use them [AMI] to assist other ongoing investigations," said Robert Mintz.[56]
Lauren Sanchez's brother, Michael Sanchez, an ardent Trump supporter, stated he was told by multiple AMI employees that the Enquirer set out to do "a takedown to make Trump happy"[57] and The Daily Beast reported seeing documents showing that Sanchez believed the Bezos story was run with "President Trump's knowledge and appreciation."[58]
Publications edit
Current edit
- Animal Tales
- Closer
- First for Women
- Girls' World
- In Touch
- J-14
- Life & Style
- Muscle & Fitness
- Muscle & Fitness Hers
- OK! (US)
- Puzzle Fun
- Quizfest
- RadarOnline.com
- Star
- Us Weekly
- Woman's World
Former edit
- Autoworld Weekly
- Bike
- Country Music
- Fit Pregnancy
- Flex
- Globe
- Men's Fitness
- Men's Journal
- Nash Country Weekly
- National Enquirer
- National Examiner
- Natural Health
- Pixie
- Powder
- Shape
- Snowboarder Magazine
- Soap Opera Digest
- Soaps in Depth
- Soap Opera Weekly
- Stallone
- Sun
- Surfer
- Teen Boss
- Transworld Skateboarding
- Weekly World News
Divisions edit
See also edit
References edit
- ^ "Contact Us - American Media Inc". americanmediainc.com. 6 December 2017. Retrieved 9 February 2019.
- ^ a b Samuelsohn, Darren. "A 'loud gong': National Enquirer's surprise deal could imperil Trump". POLITICO. Retrieved 13 December 2018.
- ^ McIntire, Mike; Savage, Charlie; Rutenberg, Jim (2018-12-12). "Tabloid Publisher's Deal in Hush-Money Inquiry Adds to Trump's Danger". The New York Times. ISSN 0362-4331. Archived from the original on 2022-01-01. Retrieved 2018-12-13.
- ^ Jim Rutenberg; Karen Weise (February 7, 2019). "Jeff Bezos Accuses National Enquirer of 'Extortion and Blackmail'". The New York Times. Archived from the original on 2022-01-01. Retrieved February 8, 2019.
- ^ a b c Wang, Christine (April 10, 2019). "National Enquirer's parent company says it's likely to sell the tabloid 'in the near future'". CNBC.
- ^ a b c d e Post, The Washington (April 11, 2019). "National Enquirer expected to be sold imminently as parent company faces pressure". Bangor Daily News.
- ^ a b Paris, Francesca (19 April 2019). "'National Enquirer' To Be Sold To Hudson News Heir James Cohen". NPR.org.
- ^ a b "Hudson Media buys National Enquirer for $100 million in wake of Trump, Bezos scandals". ABC News.
- ^ "Parent company shutters Bike magazine". Bicycle Retailer and Industry News. 2020-10-05. Retrieved 2022-01-24.
- ^ Robertson, Katie (2023-02-06). "National Enquirer, Scandal-Plagued Tabloid, Is Sold". The New York Times. ISSN 0362-4331. Retrieved 2023-02-07.
- ^ Kuczynski, Alex (1999-11-02). "THE MEDIA BUSINESS; Leading Tabloid Publisher to Buy a Big Competitor". The New York Times. ISSN 0362-4331. Retrieved 2018-12-10.
- ^ Smith, Ben (October 11, 2007). "The Clintonite who owns National Enquirer". The Politico newspaper. Arlington County, Virginia: Politico. Retrieved July 9, 2016.
- ^ Canedy, Dana (August 27, 2002). "Traces of Terror: The Bioterror; F.B.I to Re-enter Building Long After Anthrax Shut It". The New York Times. Retrieved March 29, 2018.
- ^ "Timeline: How the Anthrax Terror Unfolded". NPR. February 15, 2011. Retrieved March 29, 2018.
- ^ "Joe Weider Legendary Bodybuilding and Fitness Icon Dies at 93". MarketWatch. Retrieved March 24, 2013.
- ^ Trounson, Rebecca (24 March 2013). "Joe Weider dies at 93; bodybuilding pioneer and publisher". Los Angeles Times. Retrieved March 24, 2013.
- ^ Milliot, Jim (August 4, 2003). "American Media to Expand Book Program". Publishers Weekly. United States: PWxyz LLC. 250 (31). from the original on September 7, 2012. Retrieved July 9, 2016.
- ^ Morath, Eric (2010-11-17). "American Media Files for Bankruptcy". The Wall Street Journal. ISSN 0099-9660. Retrieved 2019-02-03.
- ^ "American Media Chapter 11 Voluntary Petition" (PDF). Pacer. San Antonio: Federal judiciary of the United States. November 17, 2010. Archived (PDF) from the original on 2022-10-09. Retrieved May 16, 2016.
- ^ Jeffrey, Don; Milford, Phil (November 17, 2010). "'National Enquirer' Publisher Files for Chapter 11". Bloomberg Businessweek. New York City: Bloomberg L.P. Retrieved July 9, 2016.
- ^ The Associated Press (May 21, 2014). "National Enquirer leaving Florida headquarters". The Record. Woodland Park, New Jersey: North Jersey Media Group. Retrieved July 9, 2016.
- ^ "Chatham Asset Management and Omega Charitable Partnership to Acquire American Media, Inc". www.prnewswire.com (Press release).
- ^ Mickey, Bill (January 28, 2015). "Meredith Buys Shape From AMI for $60 Million". foliomag.com. Washington, D.C.
- ^ "Executive from National Enquirer parent joins Postmedia board". thestar.com. October 19, 2016.
- ^ Ember, Sydney (March 15, 2017). "Us Weekly Is Sold to National Enquirer Publisher". The New York Times. New York City. Archived from the original on 2022-01-01. Retrieved March 15, 2017.
- ^ "American Media Buys Wenner's 'Men's Journal' To Attract Premium Advertisers". mediapost.com. Retrieved 2017-06-26.
- ^ . CBS8. 2018-06-15. Archived from the original on 2018-06-25. Retrieved 2018-06-25.
- ^ "American Media Acquires TEN's Adventure Sports Magazines". Folio. 2019-02-05. Retrieved 2019-03-14.
- ^ Lee, Edmund; Sorkin, Andrew Ross; Protess, Ben (10 April 2019). "The National Enquirer Is for Sale, and a Deal Seems Near". The New York Times. Archived from the original on 2022-01-01. Retrieved 11 April 2019.
- ^ "National Enquirer Sold in $100 million deal". Bizjournals.com. Retrieved November 22, 2021.
- ^ "A360 buys bookazines publisher". 13 October 2022.
- ^ "Arena Group buy digital assets of Men's Journal, Adventure Sports Network". Retrieved 6 August 2023.
- ^ Moghe, Chris Isidore, Tom Kludt and Sonia (12 April 2018). "Former doorman involved in story of alleged Trump affair speaks". Retrieved 25 August 2018.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ Farrow, Ronan (2018-04-12). "The National Enquirer, a Trump Rumor, and Another Secret Payment to Buy Silence". The New Yorker. ISSN 0028-792X. Retrieved 2018-04-12.
- ^ "$30,000 rumor? Tabloid paid for, spiked, salacious Trump tip". Associated Press. Retrieved 25 August 2018.
- ^ Moghe, Sonia (25 August 2018). "Ex-Trump World Tower doorman releases 'catch-and-kill' contract about alleged Trump affair". CNN. Retrieved 25 August 2018.
- ^ Rutenberg, Jim (2018-03-22). "Ex-Playboy Model Karen McDougal Details 10-Month Affair With Donald Trump". The New York Times. ISSN 0362-4331. Archived from the original on 2022-01-01. Retrieved 2018-12-12.
- ^ Palazzolo, Joe; Rothfeld, Michael; Alpert, Lukas (November 4, 2016). "National Enquirer Shielded Donald Trump From Playboy Model's Affair Allegation". The Wall Street Journal. Retrieved February 17, 2018.
- ^ Weprin, Alex (November 4, 2016). "Report: National Enquirer bought rights to Trump affair story, but never published". Politico.
- ^ "Karen McDougal v. American Media, Inc" (PDF). Static01.nyt.com. Retrieved November 22, 2021.
- ^ Rutenberg, Jim (2018-03-20). "Former Playboy Model Karen McDougal Sues to Break Silence on Trump". The New York Times. ISSN 0362-4331. Archived from the original on 2022-01-01. Retrieved 2018-03-20.
- ^ Rutenberg, Jim (2018-04-18). "Ex-Playboy Model, Freed From Contract, Can Discuss Alleged Trump Affair". The New York Times. ISSN 0362-4331. Archived from the original on 2022-01-01. Retrieved 2018-04-19.
- ^ Sherman, Gabriel. ""Holy shit, I thought Pecker would be the last one to turn": Trump's National Enquirer allies are the latest to defect". Vanity Fair. Retrieved 25 August 2018.
- ^ "Michael Cohen Sentenced To 3 Years In Prison". justice.gov. 2018-12-12. Retrieved 2018-12-12.
- ^ "Michael Cohen trial: Trump accused of directing hush money". BBC News. Retrieved 22 August 2018.
- ^ "Ex-Trump lawyer Michael Cohen pleads guilty, implicates president". Al Jazeera. Retrieved 22 August 2018.
- ^ Gerstein, Josh. "National Enquirer owner pays $187,500 for aiding Trump campaign in hush money deal". POLITICO.
- ^ "National Enquirer's parent company says it will investigate allegations of extortion made by Amazon CEO Jeff Bezos". ABC News. Retrieved 2019-02-08.
- ^ Helmore, Edward (2018-04-07). "What is the Donald Trump v Jeff Bezos feud really about?". The Guardian. ISSN 0261-3077. Retrieved 2019-02-08.
- ^ Stewart, Emily (2018-05-19). "Trump's trying to fight Amazon and Jeff Bezos from the White House". Vox. Retrieved 2019-02-08.
- ^ Smith, David (2018-06-17). "Why does Trump hate Jeff Bezos: is it about power or money?". The Guardian. ISSN 0261-3077. Retrieved 2019-02-08.
- ^ Pompeo, Joe (17 October 2018). "'He's Our Colleague': Inside the Post, Anger and Fear Over Khashoggi's Fate". The Hive. Retrieved 2019-02-08.
- ^ Taylor, Adam (5 November 2018). "In Saudi Arabia, Washington Post's coverage of Khashoggi killing fuels calls for Amazon boycott". Washington Post. Retrieved 8 February 2019.
- ^ a b c Bezos, Jeff (2019-02-07). "No thank you, Mr. Pecker". Jeff Bezos. Retrieved 2019-02-08.
- ^ Kim, Eugene (2019-02-07). "Jeff Bezos accuses National Enquirer publisher of blackmail, extortion". cnbc.com. Retrieved 2019-02-08.
- ^ Farhi, Paul; Ellison, Sarah; Barrett, Devlin (7 February 2019). "Amazon CEO Jeff Bezos accuses National Enquirer of extortion over intimate photos". Washington Post. Retrieved 8 February 2019.
- ^ "Was tabloid exposé of Bezos affair just juicy gossip or a political hit job?". Washington Post.
- ^ Markay, Lachlan (10 February 2019). "Mistress' Brother Leaked Bezos Texts to Enquirer". thedailybeast.com.
- ^ Silber, Tony. "American Media Acquires Bauer Media's Celebrity And Teen Brands". Forbes. Retrieved 2018-10-18.
- ^ "Entertainment Group | American Media Inc". americanmediainc.com. 6 December 2017. Retrieved 2018-10-18.
External links edit
- Official website
- Tabloid Company, Aiding Trump Campaign, May Have Crossed Line Into Politics