It looks like American Media didn't cut its $2.4-million-per-year editorial chief Bonnie Fuller fast enough: the tabloid publisher is reportedly nearly broke, desperately trying to raise money before a bunch of junk bonds come due in February. Granted, those bonds are worth $415 million, so Fuller's salary is only a sliver of the problem, but had Fuller delivered on hopes she could improve Star and National Enquirer enough to beat back competitors like Us Weekly and People perhaps the situation might not be so bleak. The company's worth has fallen by half in seven months, and its private equity owners will likely give up equity to keep it going. Perhaps some sort of juicy scandal will come along to breathe some life into the firm! [Post]
Submitted discussions can be approved by the author or users followed by this blog.