Bloomberg: AMI Has $1B Debt, Negative Net Worth

Bloomberg reports:

The publisher of the National Enquirer, currently under attack by Inc. founder Jeff Bezos, has been facing steep financial losses that have left the once-loyal keeper of Donald Trump’s secrets with more than $1 billion in debt and a negative net worth. The closely held American Media Inc. — led by the president’s longtime friend, David Pecker — recorded a $31.5 million loss in the six months that ended Sept. 30, according to documents reviewed by Bloomberg.

That marked an improvement over the previous year, but nonetheless brought the company’s total losses over the last 5 1/2 fiscal years to $256 million. AMI owed about $203 million more than its assets were worth. Bezos, the world’s richest person, has the resources to fight. On Monday alone, his wealth increased by a bigger dollar figure than all of AMI’s revenue for the first half of this fiscal year.