Ron Burkle and American Media Inc.'s David Pecker are said to be meeting with banks to finalize the financing for Source Interlink Co., controlled by Burkle-owned Yucaipa Cos., to acquire AMI [of which the tabs are part]
After all, why would "the allegedly press-shy" Burkle, who has denounced tabloids, "tabloidism," and "tabloid-style journalism," suddenly want to own them?
His interest appears mainly to be in AMI's magazine distribution company DSI, the purchase of which would make Source Interlink one of the largest magazine distributors in the country.
Hey,that could be the explanation! I don't buy it. Look at it from Burkle's point of view: Soon he'll presumably have the power to kill any scandalous story in the Enquirer or Star that might hurt his friends (the Clintons). And he'll have the power to run the stories that will hurt his enemies. And for those who might help the Clintons now (by, say, splitting the anti-Hillary vote) but hurt them later--well, he'll be able to choose the timing of any further exposes. ... Look at it from the point of view of the aptly-named David Pecker, head of AMI: If you assume Burkle wants AMI's publications in order to gain political influence, when is the time at which Burkle would pay the maximum price? Right before the campaign starts in earnest. In fact, you might pinpoint Pecker's maximum leverage as coming a couple of months before the Iowa caucuses. Just a thought. ... Oh, by the way. When the two companies are merged:
Sources close to the deal expect Pecker to become head of the new company, despite a very rough patch over the last few years that included falling rate bases and restated financials at AMI.
Eli Lake on John Edwards: "I remember him at Christopher Hitchens' house giving me the best arguments I'd heard from any Democrat on why we should invade Iraq. ... very neoconservative arguments ... humanitarian arguments." ... [ First segment in podcast ] 3:19 A.M. link
Friday, November 9, 2007