AMI’s David Pecker sells major publications… Is the Olympia next?
2019 has not been an easy year for Olympia Weekend owner David Pecker.
Pecker has a number of publications and business running under the company he owns AMI (American Media Incorporated).
From political controversy and major debt, it seems AMI CEO David Pecker has been pushed to the edge.
It has been confirmed that Pecker has sold a number of his major publications to Hudson News Heir James Cohen.
The sale includes the popular National Enquirer, the Globe and the National Examiner.
It has been reported that the three publications were sold for $100 million.
This sale would reduce AMI’s debt to $355 million. With such a debt, not many were surprised with the sale.
The sale of the publications comes after the company has become embroiled in controversies surrounding Trump’s presidential campaign, the details of which emerged as a result of federal investigations.
As part of a deal with federal prosecutors in New York City last year, AMI admitted that it helped arrange a payment to former Playboy model Karen McDougal to help Trump’s campaign keep her quiet. The Enquirer allegedly used a tactic known as “catch-and-kill” — buying the rights to a damaging story in order to bury it.
Pecker, who has deep ties to Trump, personally agreed to collaborate with federal prosecutors to avoid prosecution himself.
AMI also ran into a recent controversy with Amazon CEO and Washington Post owner Jeff Bezos, who accused the company of blackmailing him by threatening to publish potentially embarrassing personal photos. Bezos said that the company demanded he stop an investigation into how the tabloid obtained other private photos and texts of him and his girlfriend. AMI denied the accusations and said it had engaged “in good faith negotiations” with Bezos.
With all this controversy and debt, where does this leave the Olympia Weekend?
Since Pecker is the sole owner of the Olympia Weekend and also the fitness publications he purchased from the Weider’s.
One publication was already shut down in 2018. Flex magazine has now become a insert in Muscle & Fitness.
The Olympia Weekend is a very expensive show to run with very high costs. With prize money exceeding $1 million, you would need some major sponsorship to help with the costs.
Evolutionofbodybuilding.net has been informed that getting major sponsorship for the Olympia Weekend in the last couple of years has been a difficult task for the organizers.
The Olympia organizers have recently reached a sponsorship deal with Wings of Strength. This was reported in a press release published on Muscle & Fitness online. As evolutionofbodybuilding.net published on many occasions, Muscle & Fitness online is not available in Europe. The site has been down for close to a year.
The Muscle & Fitness website being down is very strange when at the same time NPC Worldwide is trying to expand all over Europe. It just does not make sense.
The Wings of Strength are known to organize the richest competition for female bodybuilding. Female bodybuilding has practically been removed from all contests in a majority of federations.
It would come as no surprise that female bodybuilding is again introduced to the Olympia Weekend.
According to musclesportmag.com, there is a big chance female bodybuilding will return in 2020.
Before accepting the role as Chief Olympia Officer for the Olympia Weekend, Dan Solomon sold his website, Digitalmuscle.com to Wings of Strength.
As the NPC/Pro League like to work with the same circle of friends, we were not surprised that Wings of Strength would be involved with the Olympia Weekend.
Could purchasing the Olympia Weekend from AMI be the next move for the Wings of Strength?
It would make perfect sense for Dan Solomon as he would be working with great friends.
Dan has already brought in the people he wants to work with while Robin Chang left AMI to start his new job with Jim Manion at NPC Worldwide.
Evolutionofbodybuilding.net has been informed that other potential buyers have been approached to purchase the Olympia Weekend, but a deal was far from being made.
With AMI being over $355 million of debt, the sale of the Olympia Weekend could be a reality very soon.
Whatever the outcome, the coming months could be a turning point for the Olympia Weekend.