The New York Post reports:
David Pecker has pulled out of American Media for good. The 68-year-old media tycoon — whose 20-year reign as the owner of the National Enquirer got mired in scandals over “catch and kill” tactics to bury damaging stories about President Trump — has stepped down as chief executive.
Pecker is exiting as part of a deal to combine American Media — which also publishes celebrity-focused titles like Us Weekly and Star magazine — with a wholesale distribution company as part of a debt-restructuring deal arranged by Chathan Asset Management, a hedge fund that owns 80 percent of American Media.
Pecker was involved in making hush money payments to two women who claimed they had affairs with Donald Trump. He became entangled in a fresh controversy in February when Amazon founder Jeff Bezos claimed that Pecker and the National Enquirer were trying to blackmail him over his affair with Lauren Sanchez.
We’re due for some Pecker jokes. We’ve earned this. https://t.co/WAUghn4bgM
— Schooley (@Rschooley) August 22, 2020
David Pecker is out as the CEO of National Enquirer owner American Media following a merger of the media company with Accelerate, the company announced on Friday. https://t.co/0YzRa1cGpM
— TheWrap (@TheWrap) August 21, 2020
David Pecker has been ousted by America Media. He cooperated with the SDNY on hush money payments, avoiding prison. https://t.co/w5cNcnKam6
— Amy Siskind 🏳️🌈 (@Amy_Siskind) August 22, 2020
David Pecker is stepping down as CEO of the National Enquirer’s parent, American Media Inc., ending a reign that saw the company entangled in a campaign-finance scandal that sent President Trump’s personal lawyer to jail. https://t.co/t4LHMJscmF
— NBC News (@NBCNews) August 22, 2020