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Economy's Impact: Cambium Learning Withdraws Notes Offering

December 7, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Cambium Learning Group, Inc. (ABCD – NASDAQ) said that it has decided to withdraw a previously announced offering of senior notes.

The company said it will continue to monitor market dynamics and all sources of capital to opportunistically minimize its cost of capital over time.   

According to Cambium CEO Ron Klausner, the decision to withdraw was based on a number of factors, including recent increase in long term interest rates.

Cambium said that the offering was intended to provide the company with access to long term fixed rate capital on favorable terms but was not required for its short-term or medium-term liquidity needs.

Texas-based Cambium Learning operates Voyager, through its core divisions, provides education solutions for students in Pre-K through 12th grade, including intervention curricula, educational technologies and services primarily focused on serving the needs of challenged learners.

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