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Lenders to gain control of Source Interlink

Posted on April 29, 2009 11:22 AM
The acquisition of Primedia Enthusiast Media Inc. less than two years ago has sent Motor Trend publisher Source Interlink Cos. careening into Chapter 11.

The Bonita Springs, Fla., magazine publisher and entertainment products distributor, partially owned by Ron Burkle's Yucaipa Cos. LLC, has agreed to cut the debt it picked up in the $1.2 billion purchase through a prepackaged reorganization plan.

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