American Media, Inc., could be forced into bankruptcy or liquidation by month’s end
It appears the market for Britney Spears sightings has also tanked: American Media, Inc., parent of The National Enquirer and Star magazine, could be forced into bankruptcy or liquidation by month’s end if it fails to work out a deal to turn over control of the company to bondholders, reports the New York Post. CEO David Pecker has received yet another extension–until midnight on January 26–to come up with an agreement with bondholders after his company defaulted on a debt repayment of $436 million. The shuttering of the scandal-mongering monolith, which also provided some of the most authoritative breaking news on the O.J. Simpson trial, would definitely signal the end of an era.