 mary 
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No more Golden Books?
Golden Books Family Entertainment Inc., which owns rights to cartoon characters "Felix the Cat" and "Underdog," filed for bankruptcy
protection for the second time in two years to speed the sale of the company for $170 million.
In Chapter 11 papers filed today in U.S. Bankruptcy Court in Delaware, the publisher of "Pat the Bunny" and other children's books listed $170.1 million in assets and $220.6 million in debts.
The New York-based company said it would be sold to DIC Entertainment Holdings Inc. for $170 million in assumed debt, cash and commercial paper, and will become private. DIC gains Golden Books' library of more than 500,000 titles, including comic books and 3,000 movies, the companies said.
[ posted by mary at 06/04/2001 04:54:29 PM ] [ trackback ]
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