SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
AMERICAN MEDIA, INC.
(Name of Issuer)
Class A Common Stock
(Title of Class of Securities)
02744L100
(CUSIP Number)
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject
class of securities, and for any subsequent amendment containing
information which would alter the disclosure provided in a prior
cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
(Continued on following page(s))
<PAGE>
CUSIP No. 02744L100
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Yacktman Fund, Inc. - 36-3831621
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
N/A
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
5 SOLE VOTING POWER
NUMBER OF
1,200,000
SHARES
6 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
7 SOLE DISPOSITIVE POWER
EACH
-0-
REPORTING
PERSON
8 SHARED DISPOSITIVE POWER
WITH
-0-
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,200,000
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES [_]
Not Applicable
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.69%*
12 TYPE OF REPORTING PERSON
IV
* Based upon an aggregate of 21,074,647 shares of Class A outstanding
at February 3, 1997.
<PAGE>
Item 1(a). Name of Issuer:
American Media, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
600 South East Coast Avenue
Lantana, Florida 33462
Item 2(a). Name of Person Filing:
The filer of this Schedule 13G is The Yacktman Fund, Inc., an investment
company registered under the Investment Company Act of 1940.
Item 2(b). Address of Principal Business Office or, if none,
Residence:
303 West Madison Street
Suite 1925
Chicago, Illinois 60606
Item 2(c). Citizenship:
The Yacktman Fund, Inc. is a Maryland corporation.
Item 2(d). Title of Class or Securities:
Class A Common Stock
Item 2(e). CUSIP Number:
02744L100
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-
2(b), check whether the person filing is a:
[ ] Broker or Dealer registered under Section 15 of the Act
[ ] Bank as defined in Section 3(a)(6) of the Act
[ ] Insurance Company as defined in Section 3(a)(19) of the Act
[X] Investment Company registered under Section 8 of the Investment
Company Act
[ ] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940
[ ] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund
[ ] Parent Holding Company
[ ] Group
[ ] N/A
Item 4. Ownership.
(a) Amount Beneficially Owned: 1,200,000
(b) Percent of Class: 5.69%
(c) Number of shares as to which such group has:
(i) sole power to vote or to direct the vote: 1,200,000
(ii) shared power to vote or to direct the vote: -0-
(iii) sole power to dispose or to direct the
disposition of: -0-
(iv) shared power to dispose or to direct the disposition
of: -0-
Item 5. Ownership of Five Percent or Less of a Class.
N/A
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
All securities reported on this Schedule are owned by investment
advisory clients of Yacktman Asset Management Co. To its
knowledge, only one such client, The Yacktman Fund, Inc., a
registered investment company owns in excess of 5.0% of the
shares of Class A Common Stock.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company.
N/A
Item 8. Identification and Classification of Members of the Group.
N/A
Item 9. Notice of Dissolution of Group.
N/A
Item 10. Certification.
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is
true, complete and correct.
February 12, 1997
Date
YACKTMAN ASSET MANAGEMENT CO.
By: /s/ Donald A. Yacktman
Donald A. Yacktman, President
