Word: globe
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Dates: during 1990-1999
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Downing, meanwhile, canceled all future revenue-sharing deals with Staples, promised to review all contracts with advertisers, and ordered up "awareness training" for the ad side. Yet in an interview with TIME last Thursday, some defensiveness seemed to be creeping back. She cited a recent Boston Globe report pointing out that promotional ties and revenue sharing are becoming more widespread at newspapers. "It makes me feel better to know it's a common industry practice," says Downing. "What I did was unfortunate. It was a mistake. I feel badly about the cloud it has put--for a little while--over...
Last week's news should have set press watchdogs yipping and gnashing. American Media, the company that already owns the National Enquirer and the Star, the two top-selling supermarket tabloids in the U.S., announced that it would pay $105 million to buy the Globe, the third biggest. The deal would also give American Media ownership of other Globe titles, including the Sun and the National Examiner, putting nearly all of America's tabloid gossip under one corporate umbrella. This raises big journalistic issues: Are the heady days when the tabs fought for JonBenet Ramsey and Prince William exclusives about...
David Pecker, the former chief of Hachette Filipacchi (Elle, George) who became president and CEO of American Media in May, vows that the Globe acquisition will actually lead to a greater diversity among the big three tabloids. After he and his partners, including ex-Deputy Treasury Secretary Roger Altman, bought American Media for $850 million, Pecker cast a cold eye on his new possessions, which had been losing circulation for five years. (The Enquirer, the Star and their wacky sibling, Weekly World News, sell a combined 4.4 million copies weekly, down 35% since 1994.) One reason, he contends, is that...
What then are Pecker's plans for the Globe, given its reputation as the naughtiest and most ethically challenged of the big three tabloids? (It was the Globe that set up Frank Gifford's hotel tryst with a former airline attendant, prompting a censorious New York Times op-ed piece by Enquirer editor Steve Coz.) Pecker says the Globe will "absolutely not" pull such a stunt again. Still, he says, "we're going to cover the spice and the controversy of the story. It's going to really be, shall I say, the unvarnished story...
...which the dedicated Globe reader may respond, "Uh-oh." Pecker seems determined to do to tabloids what Disney did to New York City's Times Square--i.e., clean things up for family consumption. Since tabloid-type stories now crop up so frequently in mainstream print and on TV, Pecker wants the real tabloids to get more respect--and a bigger share of the action. "Right now only 8% of our revenue is advertising," he says. "I think there's an opportunity to get it up to 15% to 20%." To lure upscale advertisers, Pecker has swallowed a weekly loss...