Quebecor World

MONTREAL—Freedom, despite what its name implies, most certainly comes at a stiff price. But Quebecor World can now be marked down as paid in full...and free. Quebecor World, its affiliated debtors and debtors-in-possession have successfully emerged from bankruptcy protection under Chapter 11 of the U.S. bankruptcy code and the Companies’ Creditors Arrangement Act (CCAA) in Canada.

MONTREAL—World Color Press, formerly Quebecor World, has signed a multi-year agreement to continue printing ESPN The Magazine, a bi-weekly sports news magazine with a rate base circulation of more than two million and a total audience readership of more than 14 million. World Color Press began printing ESPN The Magazine when it launched in 1998.

"Quebecor World has been a trusted partner in helping us launch and build a highly successful magazine brand," said Chris Noble, senior director of production for ESPN The Magazine. "It prints and delivers a high-quality magazine for us with a total solutions offering from premedia through mailing and distribution."

PHILADELPHIA—A merger might not have worked out for Quebecor World and RR Donnelley, but that apparently hasn't stopped two of the biggest press manufacturers from discussing the possibility of joining forces. Heidelberger Druckmaschinen and manroland AG are reportedly in merger talks, according to Bloomberg News.

Bloomberg, quoting financial newsletter Platow Brief, said that German insurer Allianz SE—which holds a 12 percent share in Heidelberg and a 65 percent stake in manroland—is pressuring the companies to merge and protect its investments. Platow did not cite a source for the information, according to Bloomberg.

Mattias Hartung, who serves corporate communications for Heidelberg, told Bloomberg, "These are market rumors and we don't comment on market rumors."

A spokesman for manroland did not respond to a Printing Impressions request for comment.

World Color Press has signed a multi-year agreement to continue printing ESPN The Magazine into the next decade. ESPN The Magazine is a bi-weekly sports news magazine with a rate base circulation of more than 2 million and a total audience readership of more than 14 million.

MONTREAL—Quebecor World, its affiliated debtors and debtors-in-possession have successfully emerged from bankruptcy protection under Chapter 11 of the U.S. bankruptcy code and the Companies' Creditors Arrangement Act (CCAA) in Canada. This completes its reorganizational plans and financial restructuring, including successfully closing $800 million in exit financing facilities. At closing, Quebecor World drew about $540 million, with which it has repaid in full its debtor-in-possession credit facility.

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MONTREAL—The Quebec Superior Court and the U.S. Bankruptcy Court for the Southern District of New York have given their blessings to Quebecor World's reorganizational plans, leaving the company perhaps days away from exiting bankruptcy protection. A joint hearing to resolve any outstanding issues relating to the terms of the new securities to be issued by Quebecor World will be held on Monday.

Quebecor World's (TSX: IQW.TO) effort to restructure the insolvent printer hit a roadblock Thursday after the U.S. government asked a U.S. Bankruptcy judge to deny the plan because of unpaid taxes and environmental penalties. The government said the plan, which was set to be confirmed Tuesday in New York, improperly lets a wide swath of third parties off the hook for claims and liabilities, including US$150 million in Clean Air Act penalties and more than US$10 million owed to the Internal Revenue Service.

TORONTO, June 23 (Reuters) - Bankrupt commercial printer Quebecor World Inc (IQW.TO) said on Tuesday that its creditors have approved its U.S. and Canadian plans of reorganization. The Montreal-based company said about 86.4 percent of all voting creditors across classes had voted to accept the company's third amended U.S. reorganization plan.