×
You will be redirected back to your article in seconds

Hudson Media CEO James Cohen Purchases the National Enquirer

Hudson Media’s CEO James Cohen announced Thursday that he will purchase the National Enquirer as well as American Media’s other tabloids, the Globe and the National Examiner.

With the purchase of the National Enquirer, which Cohen reportedly bought for $100 million, he plans to strengthen their collaborative efforts, documentary shows, weekly podcasts, and theme parks.

“Year after year, the Enquirer has continued to be one of the best-selling and most profitable newsstand titles,” said Cohen in a statement. “But this transaction is about more than a weekly publication, it’s about a brand with extraordinary potential across multiple platforms.”

Despite the optimistic statement from Cohen, it’s no surprise that the sale comes at an opportune time for the Enquirer and AMI CEO David J. Pecker as the company is in debt and has experienced loss of circulation. The Enquirer has a recent history of drama with Amazon CEO Jeff Bezos, and has also received scrutiny for presenting coverage in favor of President Donald Trump during the 2016 election. According to a statement, the sale will help AMI lessen their debt to $355 million.

In February, Bezos called out the Enquirer via blog post detailing the company’s involvement in politics and later for publishing his “intimate text messages” in the publication which resulted in many investigations to solve if they were obtained illegally. AMI fired back threatening to reveal intimate photos of Bezos if he did not halt the investigation and if he called off the Amazon owner’s Washington Post investigation into Trump’s involvement in the Saudi Arabian government. Ultimately, the jury’s out on whether or not AMI acted within the law.

The lengthy debacle hit the publication hard — so hard that Anthony Melchiorre of hedge fund Chatham Asset Management and principal owner of AMI started to put the heat on Pecker to sell the company in order to save it. Now, the internationally-famous airline news distributor Hudson Media will take over with Cohen leading the efforts to grow (and save) the publication.

“The sale of these brands shows their vitality in today’s newsstand marketplace where they continue to generate nearly $30 million in profit annually,” said Pecker. “James Cohen and his team at Hudson have a proven history in publishing and have the market-based knowledge and long-term vision needed to ensure the growth of these brands.”

More Politics

  • James Marsden attends the 2019 MOCA

    New Abortion Ban Laws Take Center Stage at MOCA Gala

    Forty years ago in Los Angeles, the decision to invest millions in a museum dedicated exclusively to contemporary art — not to mention its formerly desolate downtown location, where the vibe was more apocalyptic than artsy — was a risky proposition. But now that the city’s cultural heart has shifted south of Hollywood, it seems [...]

  • Spectators watch the 2019 Eurovision Song

    U.S. Music Industry Delegation Convenes in Tel Aviv for Eurovision

    This past weekend, squeezed between a string of Eurovision Song Contest parties, Tel Aviv’s posh Norman hotel played host to an intimate, invite-only dinner of music industry delegates from the United States. The rooftop-set event was designed as a highlight on the itinerary of the Creative Community for Peace (CCFP) weeklong trip to Israel. CCFP, [...]

  • Robert De Niro Calls for Impeachment,

    Robert De Niro Calls for Impeachment, Imprisonment for Trump, Says Maybe Al Pacino Should Lead Instead

    Robert De Niro honored Al Pacino, his longtime friend and four-time collaborator (with Martin Scorsese’s upcoming film “The Irishman” marking their latest pairing), at the American Icon Awards, and then called for a different type of tribute for President Donald Trump — “impeachment and imprisonment.” “You didn’t think you were going to completely get away without [...]

  • CEO of T-Mobile John Legere (L)

    FCC Chairman Backs T-Mobile, Sprint Merger With New Conditions

    FCC Chairman Ajit Pai gave a thumbs-up to T-Mobile and Sprint’s proposed $26 billion merger, after the companies committed to enhanced 5G buildout commitments and agreed to spin off Sprint’s Boost Mobile. T-Mobile and Sprint first announced their plans to merge in April 2018, looking to combine forces to take on industry leaders AT&T and [...]

  • Billie Eilish and Debbie Harry

    Billie Eilish, Blondie's Debbie Harry Attack Abortion Ban

    Songwriting took a backseat to politics for the female honorees at Thursday night’s ASCAP Pop Music Awards at the Beverly Hilton. America’s rapidly spreading anti-abortion movement in states such as Alabama, Georgia and, most recently, Missouri — and resulting legal battles that could lead the Supreme Court to overturn Roe vs. Wade — had veteran [...]

  • The Spectator Magazine Summer Party at

    Trump Pardons Former Media Mogul Conrad Black

    President Donald Trump has issued a full pardon for Conrad Black, a former media mogul who was convicted on counts of wire fraud and obstruction of justice and who also wrote a biography that praised the president last year. According to a lengthy post on Black’s website, Trump called Black and told him personally of [...]

  • Trump CNN

    White House Asks Users to Report Alleged Social Media Censorship

    Doubling down on the idea that conservative views are being censored on social media, the White House launched a web form Wednesday afternoon that asks users to report any actions taken against them on platforms like Facebook and Twitter because of their political views. “Social media platforms should advance freedom of speech,” the White House [...]

More From Our Brands

Access exclusive content