Year's Most Doomed Deal: AMI Buying OK! Magazine
Earlier this week, a rumor circulated that Time Inc. was considering buying celeb-slobbering money-losing OK! Magazine. Time decided not to. But a fellow money-losing enterprise is, for some reason!
Despite the fact that OK! reportedly lost $25 million last year, Jeff Bercovici says that the magazine has just been bought by National Enquirer publisher AMI. That would be the same AMI that is bankrupt, wracked by internal revolt, and which is reportedly trying to sell itself off right now. Why would one shit show buy another? Synergy, of course:
[AMI executives] also said because AMI already has the production and sales infrastructure in place to handle such functions for additional titles, OK! will be in a stronger position financially.
I don't see what could go wrong.
