Prospector
Profile
07.1655
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| American Media Operations, Inc. |
NAICS |
511120 |
| 1000 American Media Way
Boca Raton, FL 33464 |
Description |
Magazine Publisher |
| (561) 997-7733 |
Employees |
1322 |
| www.nationalenquirer.com |
Revenue |
(mil) |
474.4300 |
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Income |
(mil) |
-343.8000 |
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Assets |
(mil) |
979.2800 |
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Liability |
(mil) |
1313.7000 |
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(for the year ended 2007-03-31) |
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Category:
Low Rating
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Event:
Standard & Poor's Ratings Services affirmed its 'CCC+' corporate credit rating on American Media Operations, Inc. The outlook is developing. The rating action is based on the company's filing of its past due financial statements and third-quarter SEC Form 10-Q within the required window of time, alleviating Standard & Poor's prior concern that a continued delay in filing could have lead to an imminent event of default. "The developing outlook," said Standard & Poor's credit analyst Hal F. Diamond, "reflects our uncertainty regarding the company's liquidity amid tightening covenants and refinancing risk within the next two years, but also the possibility of credit profile improvement in the event the company does complete a refinancing."
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Intellectual Property:
The Company's registered trademarks include Star®, Men's Fitness®, Fit Pregnancy®, Natural Health® and Muscle & Fitness®. The Company entered into a trademark license agreement with Weider Health and Fitness which grants the Company the exclusive right to use the Weider trademarks on the cover and in the editorial content of existing Weider titles and in any future healthy living or fitness-related publications in any media. The Company was also given the non-exclusive right to use the trade name Joe Weider on products and services other than publications. The Company also has the right to use the Weider, Team Weider and Joe Weider trademarks in most other countries in the world. [SEC Filing 10-K 08-30-07]
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Description:
The Company, a wholly owned subsidiary of American Media, Inc., publishes celebrity and health and fitness magazines.
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Officers:
David J. Pecker (Chair & CEO); John J. Miller (Pres. & COO); Michael B. Kahane (EVP, Sec., & Gen. Counsel); John F. Craven (EVP & CFO); Bonnie Fuller (EVP & Chief Editorial Dir.); Kevin Hyson (EVP & Chief Mktg. Officer); David Leckey (EVP-Consumer Mktg.); John Swider (EVP); Saul M. Kredi (SVP & Chief Acctg. Officer); Austin M. Beutner (Dir.); Jeff Sagansky (Dir.); Anthony J. DiNovi (Dir.); Soren L. Oberg (Dir.); Michael Garin (Dir.); Saul D. Goodman (Dir.); Richard Bressler (Dir.); Daniel G. Ross (Dir.)
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Auditor:
Deloitte & Touche LLP
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Securities:
7,507.6 common shares, owned by American Media, Inc., outstanding as of Oct. 31, 2007.
10.25% senior subordinated notes due May 2009; 8.875% senior subordinated notes due January 2011
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