David Pecker Out as CEO of American Media Following Merger

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David Pecker is out as the CEO of American Media, the parent company of the National Enquirer and other publications.

The news of Pecker’s move to executive adviser came in a Friday announcement about AMI merging with logistics firm Accelerate 360. Per the Wall Street Journal:

American Media will be renamed A360 Media and Chris Scardino, an American Media veteran, will become president, the companies said. Mr. Pecker, 68, will serve as an executive adviser to the new company. “Pecker is effectively out,” a person familiar with the matter said…

Accelerate 360 is a unit of American News Company LLC, a magazine wholesale and distribution company. Both American News Company and American Media are portfolio companies of Chatham Asset Management LLC, a New Jersey-based hedge fund.

If Pecker’s name is familiar to you, it’s likely because of his past relationship with President Donald Trump and his involvement in the infamous hush money payment to Karen McDougal.