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Microcap & Penny Stocks : GBFE - GOLDEN BOOKS FAMILY ENTMT INC
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To: CoffeePot who wrote (163)1/15/1999 8:15:00 AM
From: StormRider  Read Replies (1) of 476
 
Golden Books has based children's books on Disney characters and films since 1932, and in 1997 paid $47.5 million for a five-year renewal of its license. Not only was the price more than any company previously had paid for a licensing deal, but it came as the popularity of Disney animated films like "Pocahontas" was falling short of previous hits.

Since Disney is owed a large percentage of that deal, one publishing executive noted that Golden Books, which has been struggling financially and has a market value is $20.9 million, might not be able to fulfill its agreement.

"If Golden Books goes bankrupt, Disney won't get paid," the executive, who spoke on the condition of anonymity, said. "So it could be cheaper for them to buy the company."

NY Times

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