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Microcap & Penny Stocks : GBFE - GOLDEN BOOKS FAMILY ENTMT INC -- Ignore unavailable to you. Want to Upgrade?

To: Captain Jack who wrote (13)	10/20/1998 1:37:00 PM
From: JEM	Respond to of 476

Catching up here...missed this on Thursday. JEM ----------------------------------------------------------------- Golden Books Family Entertainment Negotiating Standstill Agreement With Bondholders Business Wire - October 15, 1998 17:32 NEW YORK--(BUSINESS WIRE)--Oct. 15, 1998--Golden Books Family Entertainment, Inc. (NASDAQ:GBFE) (the "Company") announced today that it is negotiating a standstill agreement with the steering committee representing the holders of approximately $110 million of the Company's 7.65% senior notes, resulting from the Company's decision not to pay the interest due on such notes. The Company has paid and will continue to pay all of its trade obligations. As previously announced, Golden Books has retained Allen & Company Incorporated as the Company's financial advisor to explore strategic alternatives. The Company is actively pursuing such alternatives, as well as implementing various cost savings measures. Golden Books Family Entertainment, Inc., is the leading publisher of children's books in North America and owns one of the largest libraries of family entertainment copyrights. The Company creates, publishes and markets entertainment products for children and families through all media. This press release contains forward-looking information, and actual results may vary from those expressed or implied herein. Factors that could affect these results include those mentioned in the company's Form 10-K and other forms, which are filed with the Securities and Exchange Commission. CONTACT: Investor/Press Contact: Golden Books Family Entertainment Kathy Makrakis Vice President Corporate Communications 212/547-6798