×
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

  • Michael Portillo Making ‘The Trouble With

    Michael Portillo Making ‘The Trouble With the Tory Party’ for Viacom’s Channel 5

    On the day that British Prime Minister Theresa May announced her resignation plans, a prominent former politician has unveiled a two-part documentary about the troubles faced by her Conservative party. Michael Portillo is a former senior Conservative politician and leadership candidate. As the starting gun is sounded on a fresh leadership race, his documentary “Portillo: [...]

  • Twitter

    Twitter Permanently Bans Anti-Trump Krassenstein Brothers, Who Deny They Broke Platform's Rules

    Twitter permanently suspended the accounts of Ed and Brian Krassenstein — progressive political activists famous for trolling Donald Trump and his supporters — with the company alleging the brothers used bogus accounts to amplify their reach on the platform. “The Twitter Rules apply to everyone,” a Twitter rep said in a statement. “Operating multiple fake [...]

  • Theresa May

    British Prime Minister Theresa May Announces Resignation

    British Prime Minister Theresa May has confirmed she will step down as Conservative leader on June 7. She set the timetable for her resignation, Friday. It paves the way for a contest to decide on a new U.K. Prime Minister. She will remain as Prime Minister until a new leader is in position. The Prime [...]

  • Indian Prime Minister Narendra Modi displays

    Narendra Modi Wins New Mandate in Indian Election and Divides the Film Industry

    India has returned the Narendra Modi-led National Democratic Alliance coalition to power for a second term, with a huge mandate. In doing so, it polarized the film industry. The NDA won 351 seats out of a total of 542. The biggest democratic exercise in the world, more than 600 million Indians voted across six weeks. [...]

  • tammy brook

    FYI Brand Group Launches Social Impact Division

    FYI Brand Group, the music and fashion brand marketing and public relations firm founded by Tammy Brook, is launching a social impact division dedicated to campaigns centered around creating a call to action for social good. Organizations that have signed on to work with FYI include the American Cancer Society and Black Lives Matter; the [...]

  • Lauren Ash44th Annual Gracie Awards, Show,

    Politics and New Abortion Ban Laws Dominate 2019 Gracie Awards

    Female empowerment was in the air Tuesday night as showrunners, writers and performers gathered at the 44th annual Gracie Awards to celebrate women breaking barriers and shattering glass ceilings within the entertainment industry. Sandra Oh, Patricia Arquette, Rachel Maddow and Connie Britton were among the honorees at the ceremony, which took place at the Beverly [...]

  • Jeff Daniels MSNBC

    Jeff Daniels Says 'It's the End of Democracy' if Trump Gets Re-Elected

    Jeff Daniels took a swipe at President Donald Trump and the GOP during an appearance on MSNBC on Monday. Daniels spoke with Nicolle Wallace on MSNBC about his role as Atticus Finch in the Broadway production of “To Kill a Mockingbird,” a story about racial politics and discrimination in 1930s Alabama, and spent the segment [...]

More From Our Brands

Access exclusive content