Bankruptcy on the Horizon for National Enquirer Publisher
American Media Inc., publisher of several titles including National Enquirer, Shape, Star, and Radar Online announced today plans to file for bankruptcy in about two weeks. Last year AMI also took over certain publishing functions for Playboy. Pending approval from the requisite number of creditors, the company will initiate a prepackaged Chapter 11 plan that involves some kind of debt-for-equity deal.
Said CEO David Pecker of the bankruptcy:
The reorganization should not affect American Media’s operations.
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