The National Enquirer is being sold to the former head of the airport newsstand company Hudson News following a rocky year in which the tabloid was accused of burying stories that could have hurt Donald Trump's 2016 presidential campaign.
Tabloid owner American Media said Thursday it plans to sell the supermarket weekly to James Cohen. Financial terms were not immediately disclosed for the deal, which included two other American Media tabloids, the Globe and the National Examiner.
American Media admitted it had paid $150,000 to keep former Playboy model Karen McDougal quiet about an alleged affair with Trump to help his campaign. Trump has denied an affair. Whether James Cohen has any allegiances to Trump is not clear. While he was a registered Republican as late as 2017, according to Nexis records, he has given to both Republicans and Democrats. That included $17,300 in 2016 to an arm of the Democratic National Committee and $2,500 to the Republican National Committee in 2012.
The Bezos accusation comes at a difficult time for American Media. It has financed several recent acquisitions with borrowed money and has been struggling under a heavy debt load. American Media said the Cohen deal would help reduce the amount it needs to pay back, leaving it with $355 million in debt.Cohen's family had run a magazine and newspaper distributor for decades before his father branched into newsstand stores in 1980s, starting with a single one at LaGuardia Airport.
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