Conservative Billionaires announced their plans to seize Time Magazine
According to a report published on Monday, The National Enquirer may still be able to buy Time magazine even after it was sold to Meredith Corporation last week,
The conservative mega donors Charles and David Koch who pumped $650 million from their private equity firm into the Meredith bid t help push it through, may still end up selling off Time’s weekly title properties such as Time, Sports illustrated, Fortune and People.
The CEO of National Enquirer Publisher America Media Inc , David Pecker, indicated he was interested in purchasing Time weekly titles last summer.
Pecker told the New Yorker in July “I think that there’s a huge opportunity,”
Pecker, an old friend of President Trump’s, never made an official bid, however, according to an American Media spokesperson in response to an inquiry by The Daily Beast.
The spokesperson said “We have no interest in Time, Fortune, or Sports Illustrated, any suggestion or speculation otherwise is false and does not warrant further comment,”.
Pecker and the Enquirer have often provided a friendly forum for news on the president.
On Monday, the publication ran a poll to see what is the “Most Fake Name in News” after Trump declared a trophy should be given out to worst media outlet pushing “fake news.”
We should have a contest as to which of the Networks, plus CNN and not including Fox, is the most dishonest, corrupt and/or distorted in its political coverage of your favorite President (me). They are all bad. Winner to receive the FAKE NEWS TROPHY!
— Donald J. Trump (@realDonaldTrump) November 27, 2017
Industry analyst Peter Kreisky told The Daily Beast that despite American Media’s claims that it had no interest in purchasing Time’s weekly publications, it’s hard to dismiss the positive effects an acquisition would have in making it the “predominant publisher” in the U.S.
Kreisky said “The National Enquirer, US Weekly, Star and others provide Pecker with a strong, well-established business base for weekly publications. Time and other Time Inc. weeklies would not only provide massive efficiencies but also make American Media the predominant publisher of weekly titles in the nation,”.