National Enquirer owner set for bankruptcy protection

[dipsydoodle]

Source: BBC News

The US publisher of The National Enquirer and Men's Fitness has said it will file for bankruptcy protection within a fortnight.

American Media (AM) announced that it will restructure during an expected two months in Chapter 11 protection.

During this time, the company will operate as usual, it said.

The publisher has already made one attempt to trim its debt after advertising revenue fell during the global economic downturn.

Read more: http://www.bbc.co.uk/news/business-11669384

[Dont_Bogart_the_Pretzel]

1. I saw that coming a while back, you know, with foxnoise and such...

[pattmarty]

2. Ain't that the toilet paper POS that you see at the grocery checkout?.........

......Fuck, I say RIP. I never liked the toilet paper with stupid pictures anyway.

[Sherman A1]

3. It is, but

there are a bunch of people whose jobs will most likely be affected by this.

The Enquirer Staff, their advertisers, their distributors, the truck drivers, the people behind the grocery store checkout.

So while you and I may not like the publication, it was a source of work for many.

[pattmarty]

4. While I don't wish ANYONE to lose a job (I have two sons now out........

...........of work and myself have been out of work a few times in the past), it is (was?) a POS fucking rag worse than say the NY Post. The advertisers? Fuck them. All in all it isn't going to be a lot of jobs lost directly or indirectly.

[Sherman A1]

9. Oh, I don't know on the job loss count.

The guy that delivers magazines to my store, will be affected as there will be less product to deliver. When that happens generally a route will end up being cut and a driver is out. There will be less of a need for warehouse people, just that many few sales in stores which trickles down to the lower seniority folks getting fewer hours.

It all has an impact and while there may not be a lot of jobs lost, if you are the one losing that job...............

[pattmarty]

10. What in the hell are you trying to say????? That Obama should.............

.........support a "special" tax exemption or what exactly? It was/is a shit paper (with not a lot of employees directly employed or employed INDIRECTLY as "contractors") with not that many actual employees. Oh, and by the way, how in the fuck is a grocery checkout clerks employment affected by the presence of "National Enquirer" on a fucking wire stand by the counter? What the fuck? Do you work for the Enquirer? Give it a fucking break, will ya?

[Sherman A1]

16. I am sorry that you simply seem to not understand

how manufacturing (or publishing), distribution and retailing work. I am not advocating any special tax break, I am commenting on the potential loss of jobs.

When a product such as the Enquirer leaves the market, some of those sales may shift to other products and some will simply be lost to that retail store. When store sales drop off there is less need for work force hours, so some will be cut. The same applies to the driver who delivers that product to the store, the people that warehouse that product, the people that deliver that product to the warehouse, the people that print the product and on up the line.

I do not work for the Enquirer, nor do I like the publication, but I simply won't do a happy dance on it's demise, because some folks WILL be losing their jobs. :banghead:

[karynnj]

13. Their advertisers will place their dollars elsewhere - they won't lose their jobs

Nor will the people behind the grocery store checkout - they are not paid by the Enquirer.

It is true their staff, "researchers" will. Their distributors will lose ONE of many customers and they likely are the ones chartering the trucks.

[pattmarty]

18. Thank you for "explaining" what I consider the fucking obvious.

[bluedigger]

5. Meh.

I get all my hard news stand news from Weekly World News!

http://weeklyworldnews.com/politics/24286/rally-to-restore-sanity-10-million/

WASHINGTON, DC - 10 Million people attended the Stewart Colbert Rally To Restore Sanity.The DC police estimate that close to 10 million people came to Washington to attend the Rally to Restore Sanity and/or Fear. This was at least 15 times greater than the crowd that came to the Glenn Beck rally – estimated at 87,00.

News I can trust!


:rofl:

[IScreamSundays]

7. you funny!! nt

[IScreamSundays]

6. I love the National Inquirer...

When I am checking out my groceries I always check it out. I love the gossip. Especially back in the day, when GW was POUS. Pretzels and drinking binges, rumored separations, aliens and mutations. You guys are a bunch of prudes. Strip yourselves of pre-election anxiety and let yourselves feel you innards.

[AC_Mem]

11. I confess - I read it too...

LOL. Can't help it, and I'm not going to deny it.

Now having said that - why can't they find a Faux employee who will spill the beans?

:)

[Yupster]

17. Hasn't been any decent bigfoot news in years

Bankrupcy became inevitable when Sasquatch left the pages.

[Drale]

8. We no longer need the National Enquirer

Faux News has taken over that section of the news reports.

[McCamy Taylor]

12. They should make him work at McDonalds until his debts are paid in full

the same way they would any other American who gets into debt.

[trud]

14. content?

I've picked up the supermarket trash maybe once every ten years (what can I say), and my recollection is it's not Beck/Limbaugh stuff is it? It's more space aliens masquerading as cops and so on. In which case, I feel for the people who'll lose their jobs.

[JDPriestly]

15. Isn't that the outfit that brought down John Edwards?

I have no sympathy for them.

Ensign had an affair -- and is still serving in the Senate.

Vitters hired prostitutes and is about to go back to the Senate.

And then there is the governor of South Carolina.

That's just the start.

Edwards was the only candidate as I recall, who understood what was coming in our economy. And I believe he was the first to focus on the outsourcing, the loss of jobs, etc.

Also, his plan for healthcare reform unabashedly called for an opt-into Medicare for younger people.

It's just such a shame that Edwards' human failings kept him from running a real race. But for those failings, he could have done the country a lot of good. Too bad for the country.

So I am happy to see that the National Enquirer is getting its comeuppance.