The New Yorker just came out with its profile of David Pecker, the man at the helm of the National Enquirer‘s parent company, American Media Inc. There’s a lot to digest from the very long read, but one thing has stuck out to many: The media mogul is reportedly considering buying Time Inc.
The New Yorker‘s Jeffrey Toobin writes:
Pecker is now considering expanding his business: he may bid to take over the financially strapped magazines of Time, Inc., which include Time, People, and Fortune. Based on his stewardship of his own publications, Pecker would almost certainly direct those magazines, and the journalists who work for them, to advance the interests of the President and to damage those of his opponents.
Politico reported Pecker’s interest in the media company a few months back. Of course, as this is the media business, nothing is certain. Still, we may be seeing a more Trump-friendly magazine rack soon.
Meanwhile, Time Inc. is trying to stay afloat whether or not Pecker buys it: Today it announced a licensing deal with Barclays that would index the Fortune 500. This comes just a few weeks after Time Inc. announced a series of sweeping layoffs. CGW