AMI To Sell Weider Publications
« on: September 25, 2004, 04:44:16 PM »
American Media is quietly shopping Weider Publications
to major candidates that may be interested in buying the
entire Weider titles and the publishing company.
Unfortunately, AMI hasn't found a buyer who'll pay their
requested acquisition price--but that will change sooner
What this means for you and the bodybuilders? An
uncertain future. For those of you attending the
Olympia, enjoy it, because it may be the last
AMI-promoted bodybuilding show as soon as a solid
prospect is found.
I hate to see this happen--mostly because many expected
it--but AMI literally has no other option. I'm surprised
to see them hang on as long as they did and let the debt
pile up so fiercely ($1 Billion debt; Weekly interest
payments of $1 Million; sustaining severe damage from
rival tabloids titles, which is their true, core
business; a failed $350M WeiderPub aquisition, etc).
It really is time for them to unload. No one can blame
them, and Pecker has investors to answer to.