Yellow Media shareholders approve debt restructuring plan

MONTREAL — Yellow Media says its plan to reduce its $1.8-billion debt has been approved by a majority of its debtholders and shareholders.The Montreal-based company says it will put the debt restructuring plan in place by the end of this month, but adds it’s still subject to a number of conditions, including final approval by the Quebec Superior Court.Yellow Media chief executive Marc Tellier says he’s pleased with the results of the vote, and approval of the plan represents a significant step towards the company’s recapitalization.The directories publisher says the plan will improve its financial flexibility and allow it to pursue its ongoing transformation to a digital company.Yellow Media owns and operates a number of properties and publications including Yellow Pages print directories,, and[np-related]The Canadian Press

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