AMI CEO David Pecker is in a pile of shit and may not have the shoes for it. The company announced that they will be putting the muscle titles on the block. Mr. Pecker has not been in good standing with investors who reportedly were secretly looking at potential replacements outside the company. However they may be giving Mr. Pecker another peer of shoes for a chance at getting into good standing.

"It looks like a major-league collapse of the Pecker empire," said one industry executive.

At the very least, the dream of a major expansion and eventually going public with an IPO appear to be over for the foreseeable future.

In fact, sources tell The Post, in recent months some board members from the Thomas H. Lee investment team have been so worried by the deteriorating financial picture at AMI that they had quietly been sounding out publishing executives to replace Pecker as CEO.

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