Under terms of the filing, a debt-for-equity swap will clear almost $1 billion of Source’s $1.5 billion debt and make Citigroup the company’s majority shareholder. New York Post Naples Daily News (Fla.) Apr. 28, 2009
Source Interlink Companies yesterday reported a net loss of $296.7 million for the six months ending July 31, compared to a $4 million net income gain for the period last year. The company has also folded three underperforming titles: Car Audio and Electronics, Stock Car Racing and Mini Rider. Folio: (Sept. 17, 2008)
Source also wrote some $270.8 million off its books in the first quarter of fiscal 2009 to reflect the declining accounting value of its Source Interlink Media publishing division. The company is conducting a Q1 fiscal 2009 earnings conferernce call today. Southwest Florida News-Press Source Interlink’s 2009 First Quarter Results (.pdf file format) [...]
Source Interlink Companies’ Alliance Entertainment division plans to open a new, 404,000-square-foot distribution center in Shepherdsville, KY, this month. The new facility, whose lease allows for a potential, 260,000-square-foot, future expansion, replaces a 170,000-square-foot facility in the same town. Southwest Florida News-Press (May 28, 2008)
The Company will host a teleconference at 4:30 p.m. Eastern Time, accessible at 800-952-4972 (for U.S. callers) or 416-641-2140 (for international callers). PR Newswire via CNNMoney.com (May 20, 2008)
Yucaipa Cos. has raised $1.2 billion for its Yucaipa American Alliance Fund II LP, which claims a $2 billion cover amount. Led by billionaire investor Ron Burkle, the fund will continue Yucaipa’s strategy of “taking primarily controlling investments in underperforming U.S. companies in the distribution, logistics, food, retail, consumer and light industrial sectors.” Dow Jones [...]
The company has scheduled a conference call to discuss the results at 4:30 p.m. Eastern Time on that day. Source Interlink Press Release (Mar. 25, 2008)
James R. Gillis, president, coo and co-ceo of Source Interlink Companies, Inc., has been appointed to the board of directors of Park City Group, Inc., (OTCBB: PCYG), a provider of inventory and labor optimization software solutions to retailers. Park City Group announced the appointment today in a press release. Business Wire on FoxBusiness.com (Feb. 5, 2008)
Source Interlink Companies Chairman Mike Duckworth cited the consolidation plan as one of the company’s major initiatives in its magazine distribution business segment during a 3rd quarter earnings conference call, late yesterday. Third quarter revenue in the segment increased by 8.6% to $222.2 million, mostly because the company’s Anderson News acquisitions were only on its books [...]