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American Media, Inc. To Explore Refinancing Options

American Media, Inc. (AMI) announced on its earnings call on July 1, 2015 that its revenue and Adjusted EBITDA from continuing operations for the fiscal year ended March 31, 2015 were $245.2 million and $74.4 million, respectively. AMI also reported the deleveraging of its balance sheet through the repurchase of its first and second lien notes in the aggregate amount of $58.1 million. AMI stated that during Fiscal Year 2015, its digital revenue increased 26% to $9.9 million.

In his remarks, AMI Chairman, CEO and President David J. Pecker commented that advertising remains strong in the first quarter of AMI's new fiscal year, with print and digital ad revenues for Men's Fitness, Star and OK magazines all up versus the prior fiscal year. He also noted that for the first time since the publishing industry's second largest wholesaler ceased operations in May 2014, AMI newsstand unit sales in the celebrity market have stabilized.

For Fiscal Year 2016, AMI provided revenue and Adjusted EBITDA guidance of $230-$235 million and $80-$85 million, respectively.

Mr. Pecker concluded his remarks by saying that, based on significant deleveraging during Fiscal Year 2015, AMI's strong print and digital advertising performance, the stabilization of newsstand sales and AMI's projected cash flow from operations of $35 million for Fiscal Year 2016, the company is evaluating refinancing options for its $273.2 million of outstanding First Lien Notes due December 2017. Any refinancing of the outstanding first lien notes will be subject to market conditions.

American Media, Inc. (AMI) owns and operates the leading print and digital celebrity and active lifestyle media brands in the United States. AMI's titles include National Enquirer, Star, OK!, Globe, National Examiner, Soap Opera Digest, Men's Fitness, Muscle & Fitness, Flex and Muscle & Fitness Hers. AMI also manages 14 different digital sites including,, and AMI's magazines have a combined total circulation of 3.2+ million and reach more than 40 million men and women each month. AMI's digital properties reach an average of 49+ million unique visitors and 224+ million page views monthly.


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