Bankrupt Book Co. Will Pay Independent Publishers

Law360, New York (February 20, 2007, 12:00 AM EST) -- Publishers Group West, a unit of bankrupt book marketer Advanced Marketing Services Inc., will pay most of the money it owes to independent publishers under a plan recently approved by the federal bankruptcy court.

Footing the bill will be New York book distributor Perseus Books Group, which recently won a bidding war for the unit. Perseus will pay 70% of the money that PGW owed independents under the plan, which was approved Friday.

The company will also continue to distribute products for the independent publishers, most...
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