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AMI's Pecker Penny Pinches Bonnie

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PULLED PERKS Fuller, Pecker (inset)
American Media Inc.'s long-overdue restatement of financial performance for fiscal 2006, filed Friday, shed light on more than just how dire the tabloid giant's fortunes have become. The filing also included editorial director Bonnie Fuller's new contract.

Though renewed nine months ago, the details of her current $2 million-a-year deal have been under wraps. They emerge now amid reports that Fuller has been job hunting, and with speculation inside AMI that her role running Star magazine will be greatly diminished now that new editor in chief Candace Trunzo is on the job.

The new contract filed with the Securities and Exchange Commission contains several indications that chairman David Pecker, who had to pony up extra bonus money to keep Fuller around, sought to balance that out by cutting back on her perks. In one notable amendment, a cap of $80,000 has been set on her car service budget, which had no limit under her old deal. There is also now a $20,000 limit on reimbursement for hair and makeup expenses. The previous agreement made no explicit provision for hair and makeup—but that didn't stop Fuller from calling in stylists from the high-end Warren-Tricomi Salon to primp her for TV appearances.

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