Year in Review: Not the Best of Times

Saddled with more than $6 billion in debt, AbitibiBowater of Montreal filed for Chapter 11 bankruptcy protection both in the United States and Canada.

In perhaps the most shocking printing news of the year—perhaps of this century—RR Donnelley made a bid to acquire Quebecor World, which was about to exit bankruptcy protection. The offer of $1.35 billion in cash and Donnelley stock was rejected shortly thereafter by Quebecor World, which stuck to its game plan of emerging from Chapter 11 protection. And, in another shocker, former Donnelley CEO Mark Angelson climbed into the captain’s chair of the newly rechristened Worldcolor.