Get Media Industry Alerts
Visit min's sister site:

Facebook  Twitter  LinkedIn   Google+   
Latest Issue »
Subscribe Now »
Get 4
Free Issues »

American Media Emerges from Bankruptcy

Wednesday, December 29, 2010

The official end to National Enquirer/Shape/Star parent American Media Inc.'s Chapter 11 bankruptcy filing came at 5 p.m. (Eastern) on Wednesday, Dec. 22. The news became a fait accompli after U.S. Bankruptcy Court judge Martin Glenn's Dec. 20 approval of AMI president/chairman/CEO (since April 1999) David Pecker's prepackaged plan to convert bondholders into shareholders and eliminate $355 million in debt. The bankruptcy lasted just five weeks: Nov. 17-Dec. 22.

In an interview with Bloomberg News, Pecker said that the restructuring gives AMI an annual cash flow of $50 million. "I will now be able to look for potential magazine and digital acquisitions," he said. The last major AMI deal was the Nov. 2002 purchase of Weider Publications (Shape/Muscle & Fitness, etc.) for $350 million.

If you have breaking news to share please contact min's editors.

Friend Us on Facebook at


Post a Comment


Please enter the letters or numbers you see in the image.

More Breaking News & Views

Breaking News & Views Archives

Editorial and Design Awards Breakfast
View the Winners and Honorable Mentions
Complete Event Recap

The minsider Breakfast
December 1 | Yale Club, NYC
Register Today

Most Intriguing, Rising Stars & Hottest Launches Awards Celebration

December 3 | Grand Hyatt, NYC
Register Today

Best of the Web Awards
Entry Deadline: Dec. 4
Enter Today

See all events and awards
Search Jobs
Media Jobs
Production Editorial Associate
Annual Reviews
Palo Alto, CA

Michael J. Hennessy & Associates
Plainsboro, NJ

Director, Media Relations

Lockheed Martin
Bethesda, MD

Media Planner
Tampa, FL

White Papers
Get even smarter.  Need a quick primer on a media topic? Download a white paper!

Optimizing Your Printer Services - By MRI

Media Insights: minsider Viewpoints from the Front Lines - By min

View Whitepapers
min Contests

min contests

Want to sponsor a min contest?

Inside min This Week

Free Eletters — Sign up Now