Two Media Giants Emerge from Bankruptcy


American Media Inc, the publisher of National Enquirer is set to exit Chapter 11 bankruptcy protection by end of this month, if all goes as predicted. A judge in the Bankruptcy court for the Southern District of New York is expected to approve the publisher’s planned exit from bankruptcy paving the way for it to emerge with a stronger capital base, less debt in its books and an improved cash reserve.

American Media, the publisher based in Boca Raton, Florida owns about a fifth of the market share of newsstand circulation in the US and Canada, filed for bankruptcy protection last month with debts amounting to $879 million.

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