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

To: Ken W who wrote (359)	2/17/1999 1:28:00 PM
From: JEM	Respond to of 476

GOLDEN BOOKS FAMILY ENTERTAINMENT ANNOUNCES NEGOTIATIONS TOWARD A RESTRUCTURING AGREEMENT New York, February 17, 1999 -- Golden Books Family Entertainment, Inc. (Nasdaq: GBFE) (the ''Company'') announced today that it was negotiating an agreement in principal with its major creditors pursuant to which it will significantly reduce its existing long-term debt, pay all trade debt in full and, under the direction of its current management team, proceed with its publishing and entertainment operations. Pursuant to the negotiations, existing preferred and common shareholders will surrender their stock for out-of-the money warrants to purchase a small percentage of the new company stock to be issued post-recapitalization. Such recapitalization will be effectuated pursuant to a ''prearranged'' plan. The Company also stated that the report yesterday on CNBC generally reflected the current state of the negotiations. There can be no assurance that the Company will reach an agreement with its institutional creditors, what the terms of the agreement will be, or whether any agreed-upon plan will obtain the requisite court approval. The Company 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 includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations contained in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. This information may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings. Investor/Press Contact: Philip Galanes, Chief Administrative Officer, Golden Books Family Entertainment, 212-547-4466.

To: Ken W who wrote (359)	2/17/1999 1:29:00 PM
From: Sethpop	Read Replies (3) \| Respond to of 476

Why should GBFE sue Faber??? He certainly didn't hurt the company or the stock...You have management to blame for that!!...In fact, he may have saved them from some serious shareholder lawsuits...The company was stupid enough to release information that was "pumping" the stock at the same time they were negotiating a re-organization plan that was essentially going to make the stock worthless....If Faber hadn't released the report the stock might have gone to 5 yesterday. In fact, who knows, maybe someone in the company's legal department "leaked" the report to Faber to cool off the stock after some over-zealous PR and marketing people had released the morning's news about their website!! There has been no hope for common shareholders for quite some time...since their financial defaults pushed them into a situation where even IF a Disney or someone had wanted to buy them, the company would have had to go through a pre-packaged re-structuring essentially wiping out shareholders anyway!! If you believe in their INtangible assets and in the proposed management and like the proposed structure, the reports seem to indicate that your "old" GBFE stock will be exchanged for a warrant to buy some of the "new" stock that will be created..So you can pay more money to follow your belief (and also help pay off the creditors and provide new money for the company!!)