David Pecker, the CEO of the parent company that owned the National Enquirer, will step down from his position, The Associated Press reported Friday.
Pecker's company, American Media, Inc., will be taken over by Accelerate 360, a logistics firm located in Georgia that has delivered products pertaining to the coronavirus pandemic ranging from hand sanitizer to face masks, according to the new source.
"The Board of Managers of American Media, LLC's holding company have made the strategic decision to combine American Media and Accelerate360, LLC (Accelerate)," the company announced, according to a statement posted to its website.
A longtime employee of American Media, Chris Scavino, will take over as president of A360 Media, Accelerate's offshoot unit in New York. There, the company will continue to publish the Enquirer in addition to other magazines including US Weekly, Life & Style and OK!
Pecker, Accelerate said, will still serve as an adviser to the company.
Pecker was head of American Media during tumultuous times.
The media company admitted to paying $150,000 to adult film star Stormy Daniels to ensure she would remain silent about an alleged affair that she had with President TrumpDonald TrumpTexas announces election audit in four counties after Trump demand Schumer sets Monday showdown on debt ceiling-government funding bill Pennsylvania AG sues to block GOP subpoenas in election probe MORE before he was running for office.
After its admission, prosecutors did not take legal action against the company in exchange for help in an investigation into campaign finance violations. Its complicity later helped to charge Trump's former personal lawyer and fixer Michael CohenMichael Dean CohenMichael Cohen: Trump bluffing about another White House bid Eric Trump lawyer in New York attorney general's fraud case quits Andrew Cuomo and the death of shame MORE.
Cohen was convicted and sentenced to three years in prison after pleading guilty to multiple charges including lying to Congress and campaign finance violations before the 2016 presidential election.