Pecker swinging ax
38 Us Weekly staffers pink-slipped: sources
THE soon-to-be owners of Us Weekly are sharpening the ax. OnThursday, 38editorial people, including Us Weekly Editor-in-Chief Michael Steele, were told they are getting the old heave-ho, sources tell Media Ink. But they have to keep working for the next few weeks until the deal officially close sand American Media Inc. delivers the $100 million check to Jann Wenner. Meanwhile, AMI boss David Peck er and National Enquirer Editorin-Chief Dylan Howard are inviting the 42 editorial people who survived the ax to lunch at swanky Le Bernardin on Friday to meet their new bosses.
Steele—aware of the anger directed at Wenner and his son Gus Wenner for never addressing the full staff after the sale was announced — made sure hecalled eachstaffer individually into his office Thursday to deliver the news on whether he or she was being let go or offered a job.
“A class act,” said one of the laid-off staffers of Steele.
The soon-to-be-pink-slipped Us team did put out this week’ s cover ( right) — and it is likely to give Trumpsupporting Pecker some agita.
“SEPARATE BEDROOMS”— the headline screams: “Melania’s Secrets.” The story claims the first couple are leading largely separate lives.
One insider said he did not think the anti-Trump cover this week caused their demise. “We were all gone anyway,” said the staffer.
Among the senior staff facing the ax withSteele: Editorial Director Jaimee Zanzinger, Creative Director Victor
Thompson, Deputy Editor April Bernard, Photography Director Jennifer Halper, Entertainment Director Ian Drew, West Coast Bureau
Chief Rebecca Bienstock, Deputy Editor Mara Reinstein and Senior Writer Eric Andersson.
As Media Ink predicted, Publisher Vicci Lasdon Rose and her ad staff are being invited to join AMI. Sois the most of the digital staff. In all, about80 people are being asked to AMI.
Timemarcheson
The Time Inc. board is talking with “multiple parties” as a potential selloff moves to its final stages, according to a source close to the situation. Even as it does, there are indications that Jana Partners, the sometimes activist hedge fund that owns at least 5 percent of Time, is getting restless. Time is still pushing the concept of selling to onebuyer, evenasit appears that somepotential purchasers would prefer a bust-up. In one significant move, Time late Thursday changed the deadline for nominating members to the board of directors from March 23 to April 21. It also pushed back its shareholders meeting from early June to June 29. One source speculated that was done to allow Jan a boss Barry Rosen- stein and other activists to push for a newboard should a deal not get done. Theextension, the source speculated, was meant to avoid creating tension around the ongoing sale process.
At the same time, “it creates pressure on the board to accept whatever is onthe table.”
Meredith is the lead bidder but has not yet wrapped upadeal.
“There are two buyers that have a different interest in acquiring different properties,” said one financial player close to the talks. That leaves the door open. One person lurking on the periphery is American Media Inc.’s David Pecker, sources are whispering to The Post’s Josh Kosman. Pecker is out trying to raise money possibly as a way into the process at the eleventh hour, the sources said. An AMIspokesman shoots down that rumor: “Not true.”
Theonly other knownbidder is ateamofPhoenix-basedNajafi Cos., headed byJahmNajafi, and Londonbased Pamplona Capital Management, headed by Moscow-born Alexander Kn aster.
AJana spokesman declined to comment, and Meredith and Time have consistently declined to comment. Najafi and Pamplona did not return calls.
Time closed at $19.25 on Thursday, down2percent.
Troncpayoff
Alittle greenmail goes a long way. Tronc appears to have paid a handsome ransom to rid itself of Oaktree Capital, a dissident shareholder that had lobbied furiously for a $1 billion sale to Gannett. The deal ultimately unraveled over financing, and Oaktree threatened to take Tronc and Chairman Michael Ferro to court. OnThursday, the Troncboard approved a $15-a-share buyout of Oaktree’s 3.75 million shares, a premium over Tronc’s $13.16 share close. Under the agreement, Oaktree and Tronc will pledge not to take legal action against each other. Ferro may still have to contend with onetime ally Patrick SoonShiong, who was recently tossed off the board and stripped of his vice chairman role — even as heincreased his stock holding to close to 25 percent, nearly matching Ferro’s stake.