Tabloid King Seeks Makeover From Sassy to Stable.

Claims that David J. Pecker, chief executive of magazine publishing company American Media Inc., wants his company to acquire another publisher before going public later this year. Background on American Media, which owns a number of tabloids, including the "National Enquirer;" Plans to redesign "The Star;" Report of recent setbacks to the company caused by a drop in advertising revenues and tabloid sales; Details of the company's financial performance; Comment by Pecker on the timing of the IPO; Speculation about which companies American Media may try to acquire, including Gruner & Jahr USA Publishing and Dennis Publishing USA; Details of new titles and other developments at American Media; Comments by industry colleagues on Pecker's management style.