Golden toys with selling entertainment division

Sagging book sales have forced cash-strapped U.S. kids publisher Golden Books Family Entertainment to consider selling off its entertainment division, according to sources who say it's one of several options the company is exploring to alleviate its current financial problems. Another...

November 1, 1998

Sagging book sales have forced cash-strapped U.S. kids publisher Golden Books Family Entertainment to consider selling off its entertainment division, according to sources who say it’s one of several options the company is exploring to alleviate its current financial problems. Another scenario would see GBFE sell its library of kids properties, including Lassie, the Lone Ranger and Underdog, which it purchased from Broadway Video in 1996. Last month, GBFE struck a standstill agreement with bondholders, allowing it to defer a US$5-million interest payment on bonds worth US$110 million.