National Enquirer Sold To Indicted Ex-MoviePass Exec

CNBC reports:

The National Enquirer, the tabloid at the center of several scandals involving former President Donald Trump, will be sold to a joint venture involving Theodore Farnsworth, the former MoviePass chairman who has been criminally charged with securities fraud.

The deal’s price wasn’t disclosed, but Farnsworth, founder of Icon Publishing, told The New York Times that it was a little under $100 million. The National Enquirer has been on the block for about four years.

In November, prosecutors alleged that Farnsworth and others misled investors about MoviePass, the once-hot movie ticketing startup, by saying its “unlimited” plan would be sustainable and profitable.

The Associated Press reports:

Federal prosecutors revealed in 2018 that they had agreed not to prosecute American Media Inc. for secretly assisting Trump’s campaign by paying $150,000 to Playboy model Karen McDougal for the rights to her story about an alleged affair with Trump. The company then intentionally suppressed McDougal’s story until after the election.

The National Enquirer for years buried potentially embarrassing stories about Trump and other favored celebrities by buying the rights to them and never publishing.

American Media sold the National Enquirer and some other publications in April 2019 to James Cohen, former head of the airport newsstand company Hudson News. However, the transaction was never completed.