National Enquirer owner David Pecker has been mulling over a potential bid to buy out struggling magazine and media publisher Time Inc. , according to a feature in the July 3 edition of The New Yorker. The nugget is buried in an in-depth profile on Pecker’s friendship with, and his tabloid’s support of President Donald Trump. Back in April the Sport’s Illustrated, People and Time publisher was entertaining bids, but ultimately decided not to put itself up for sale. However, as the New Yorker story notes, even if Time were on the market, Pecker couldn’t buy the company outright himself. He would need a deep-pocketed partner. Time, like many of its peers, has struggled to contend with a declining print business, recently cutting 300 jobs in order to facilitate a shift to digital. Shares of Time have declined more than 23% in the year to date, while the S&P 500 index have gained more than 8%.
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