Considering the current debt load due for American Media Inc., it's not surprising that CEO David Pecker at today's Magazine Publisher's of America breakfast said he'd be glad for a partner like Elevation Partners, who got a reported 40 percent of Forbes for a reported $250-$300 million. Keith Kelly wrote in the NY Post that Source Interlink and AMI have been in discussions.
Pecker was answering a question from MPA chief Nina Link about whether he'd like to have strategic partners. Pecker said not a magazine company who's also in the celerity space; the seven biggies are very proprietary and protective of their brands and material, and it's not clear what synergies could be achieved, he said. But a financial partner -- show me the money! -- or a company that has expertise AMI might not, such as a TV production concern, could be a great partner, he said. He earlier had mentioned a TV company AMI was talking with about producing a series of events for, I believe, Muscle Fitness, around the country, taking a single show they've done and making it into a traveling series.