Replies

Heck, we might as well add the WaPo to the collection. I saw one article where Arnie's folks were saying that this saves the state money: since Weider pays him, the state doesn't have to. What's wrong with this picture? LOL.

Schwarzenegger A Top-Dollar Editor - Conflict-of-Interest Questions Cited
By Amy Argetsinger
Washington Post Staff Writer
Friday, July 15, 2005; Page A03
LOS ANGELES, July 14 -- When Gov. Arnold Schwarzenegger announced last year that he had signed a deal to serve as executive editor for two fitness magazines, he described the salary as "petty compared to the movies."
In fact, he was in line to receive at least $5 million over five years, according to records filed this week with the Securities and Exchange Commission. Although the amount may pale next to the reported $30 million he earned for his last film role, it prompted California legislators and government watchdogs to raise concerns Thursday about conflicts of interest and distractions from the governor's day job.
Much of the advertising revenue for the magazines, Muscle & Fitness and Flex, comes from makers of dietary supplements, a controversial industry. Last year, Schwarzenegger (R) vetoed a bill that would have discouraged high school athletes from taking performance-enhancing supplements, saying that most such products are safe.
(snip)
Schwarzenegger's dealings with American Media Inc., the Florida-based publisher of Muscle & Fitness and Flex, had earlier raised eyebrows. Most questions concerned whether his connections to the company -- which bought the magazines in early 2003 from Joe Weider, his longtime friend and mentor -- were the reason its celebrity- and scandal-oriented tabloids, such as the National Enquirer and the Star, steered clear of news reports about sexual harassment allegations concerning the then-movie star.
According to American Media's filings with the SEC, Schwarzenegger's Oak Productions firm was to receive 1 percent of annual advertising revenue, although no less than $1 million a year. The estimates included in the agreement say Schwarzenegger could receive as much as $8.15 million through 2009.