July 14, 2010

» American Media Inc, (AMI) the publisher of several magazines including Star, The National Enquirer, Shape, as well Hispanic magazine Mira!has undergone another financial restructuring that cuts its debt by a further $200 million, Folio reports. The publisher renegotiated and avoided bankruptcy in early 2009. Now it has struck an agreement with 90 percent of its bondholders that has them exchanging AMI’s bonds for equity in the form of AMI common stock.

During the last few weeks, an unprecedented event unfolded in the U.S. Hispanic publishing industry. A renowned journalist and columnist was arrested along with ten other people, including her husband, on charges of suspected espionage on behalf of the Russian Federation.