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NEWS AT AMI — AND IT ISN’T JUST JOHN EDWARDS: American Media Inc. has been on a roll in the last few weeks thanks to its National Enquirer operation blowing away all media in coverage of the John Edwards sex scandal. Now it has more good news: The publishing group on Thursday reported net profits of $388,000 in the first quarter versus a net loss of $123,000 in the same period a year ago. Revenues were down 2 percent to $119 million because, like every other publisher, AMI has seen general market softness in ad spending. Chief executive officer David Pecker said AMI’s ad pages were down 3.2 percent from Jan. 1 through July 31, but claimed that’s the smallest decline of any publisher with more than 3,000 ad pages.
— Amy Wicks