American Media Cuts Its Debt By $200 Million
American Media — the company behind celebrity magazines Star and the National Enquirer, as well as fitness titles like Shape and Muscle and Fitness, has announced that it has chopped its debt burden by $200 million.
The company said it has reached an agreement with 90% of its bondholders to swap bonds for common stock. “I am very grateful to our bondholders for having the confidence and faith in AMI to consummate this transaction,” said American Media chairman, president and CEO David J.
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