PECKER’S NEW PACT: American Media Inc. faced some disappointing news last week, regarding the ratings downgrade by Moody’s. However, chief executive officer David Pecker recently received a vote of confidence from the company when it extended his contract for one more year, beginning April 18. Pecker’s compensation will remain the same, with an annual base salary of $1.5 million, a possible annual cash bonus of up to $250,000, as well as country club dues, membership fees and car and driver expenses. — Amy Wicks

The story of Agyness Deyn’s ascent from fish-and-chip-shop server in Lancashire, England, to top model is already the stuff of fashion legend. Her tale has clearly been so inspirational that the British tabloid The Daily Mirror last week launched its own nationwide search for the U.K.’s sexiest Fish and Chip shop girl. The ad is packed with puns, including: Could you take your plaice on the catwalk? Do you make hearts mushy? (Referring to traditional side dish of mushy peas). Applicants must submit entries by March 21, along with photos, name, age, and fish-and-chip-shop employers. What could possibly be next? Deyn’s “Chips to Riches” autobiography? — Samantha Conti

SCENT OF A DEAL?: Reed Elsevier might be looking to sell or spin off such titles as Variety, Publishers Weekly and Broadcasting & Cable, but that doesn’t mean it’s lost interest in B2B publishing. Industry sources said Reed Elsevier has inked a deal to acquire French trade press group Cosmedias. A spokeswoman for Paris-based Cosmedias could not be reached for comment Friday, while a London-based spokeswoman for Reed Elsevier declined comment. Cosmedias, which specializes in beauty industry titles, publishes ICN, CosmeticNews, Cosmetique Hebdo, Coiffure de Paris and CosmetiqueMag, among other titles. — Brid Costello

DRINKING ART: Although it doesn’t carry quite the same star power as say, a Super Bowl commercial starring Justin Timberlake, Pepsi has tapped 10 artists to create designs that will plaster millions, if not billions, of Pepsi cans across the globe. Among the artists are Russians Vladamir Dubossarsky and Alexander Vinogradov and the Puerto Rican artist Dzine. Cary Leitzes, former director of photography for Harper’s Bazaar, assembled the artists for Pepsi on behalf of her company, Artco. Director of Brand Pepsi Richard Hu said the cans are just starting to go on sale internationally. There is no timetable for the project, and money was not a primary concern in putting it all together, he added. “It has been a learning experience, but it’s been a very worthwhile trial,” he said. “These are like moving billboards for us.” Hu added the artists were told to translate their passion for life onto a label, with just a few rules in mind. “Of course, it needed to include a lot of blue,” he said, to differentiate it from its main competitor, Coca-Cola. Hu declined to say how much the project cost, adding that it is just one of many international marketing initiatives he is working on. — A.W.