Some things you just know in your heart to be true. That the sky is not falling, for instance. That puppies are cute. That those asterisks in GQ are terribly gimmicky. Oh, and also: That David Pecker's American Media Inc. will miss its reporting deadline.
Today marked the deadline for the filing of Star magazine publisher American Media's third quarter, fourth quarter and full-year 2006 results, but the company told note holders Wednesday that it once again does not have them ready. The company says the results will be ready by March 23.
Last month, the company agreed to pay note holders between $687,500 and $1.375 million in exchange for again postponing the restatement of its third quarter, fourth quarter and full-year 2006 results, as well as the results of its first and second quarters for 2007, according to documents filed with the Securities and Exchange Commission.
Jeez, it's just a month of embarrassments for those kids, isn't it?
Editorial Director
[...] a record of doing everything in their power to delay reporting its quarterly numbers to the SEC, sometimes paying six- to seven-figure fees for the privilege. And when they did report the figures – always bad, always big – [...]