In an October 25 story in the New York Post, Keith Kelly reported that merger talks were underway between American Media Inc. CEO David Pecker and Ron Burkle of Source Interlink Cos. At the time, the two sides were thought to be close to inking a deal, but neither party would confirm or deny the report.
The Post is reporting today that a price of $1.2 billion has been agreed upon, the only stumbling block being that the banks want Source to put more equity into the deal. David Pecker and Evercore Partners bought American Media in 1999 for $850 million. In 2003 American Media bought health and fitness magazine publisher Weider Publications for $350 million. AMI titles include The National Enquirer, Star Magazine, Globe Magazine, Co More...
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AMI and Source Interlink Close to a Deal?
Krista Joukhadar Audience Development - 11/14/2007-03:00 AMIn an October 25 story in the New York Post, Keith Kelly reported that merger talks were underway between American Media Inc. CEO David Pecker and Ron Burkle of Source Interlink Cos. At the time, the two sides were thought to be close to inking a deal, but neither party would confirm or deny the report.
The Post is reporting today that a price of $1.2 billion has been agreed upon, the only stumbling block being that the banks want Source to put more equity into the deal. David Pecker and Evercore Partners bought American Media in 1999 for $850 million. In 2003 American Media bought health and fitness magazine publisher Weider Publications for $350 million. AMI titles include The National Enquirer, Star Magazine, Globe Magazine, Co More...