Thursday, November 18, 2010

It might be a sign of hope ...

... at first glance ...

Nov. 17 (Bloomberg) -- American Media Inc., the publisher of the National Enquirer and Star supermarket tabloids, filed for bankruptcy protection with a previously negotiated reorganization plan.

The Boca Raton, Florida-based publisher listed assets of less than $50,000 and debt of as much as $1 billion in its Chapter 11 filing today in U.S. Bankruptcy Court in Manhattan. A separate petition of operating subsidiary American Media Operations Inc.’s lists assets of $100 million to $500 million and debt of more than $1 billion.

... but you also have to wonder what would fill the niche if the time they buy with this filing doesn't end up saving their checkout line rags. Something put out by Philip Anschutz, maybe?

(h/t: Chief reporter for dubious reports of Palin pregnancies. Besides Andrew Sullivan, I mean.)

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