Ernie Els Scoffs at Losers

Bill Clinton’s billionaire friend and political donor Ron Burkle has agreed to buy the magazine holdings of Primedia Inc., giving Burkle control of 76 specialty magazines.

Last year Burkle was rebuffed in his efforts to buy into Knight Ridder, Inc., the nation’s second-biggest newspaper chain. And this year he failed in his attempt to purchase Tribune Co., owner of the Los Angeles Times and other dailies.

But now Florida-based Source Interlink Companies, a large magazine distributor, will pay $1.2 billion to acquire Primedia’s magazines and related Web sites. Burkle’s investment firm Yucaipa Companies – which pays Clinton as a senior adviser – is the largest shareholder in Source Interlink.

Primedia’s magazines, which include Motor Trend and Soap Opera Digest, produced $524.8 million in revenue in fiscal 2006, according to the Los Angeles Times.

Last year the New York Times reported that Clinton stood to earn "tens of millions of dollars" as an adviser to Burkle’s equity firm. Burkle, who built his fortune operating supermarkets in Los Angeles, said at the time: "If we make money, he makes money."

Soon after Clinton joined Yucaipa, the firm created controversy when it was revealed that it was setting up a company to manage the investments of the crown prince of Dubai. At the time, Dubai was involved in a firestorm over its deal to take over some of the operations at major U.S. ports.

Clinton’s involvement with Yucaipa led former Clinton adviser Dick Morris to call the ex-president "a paid agent of the crown prince of Dubai."

Burkle’s deal to buy Primedia is expected to be completed this summer.

Another Clinton scam....under the table dollars and more media pushing Hillary.  Total BS.