Memo Pad: Oprah Boosts Sales... AMI's New Deal... Boodro Departs...

After months of extensions, American Media Inc. has completed a financial restructuring that gives bondholders 95 percent of the company's stock.

BOODRO DEPARTS: Just a day after Martha Stewart was inducted into the Magazine Editors’ Hall of Fame, editor in chief Michael Boodro “stepped down” from Martha Stewart Living. reported Boodro was laid off, and sources close to the company said Stewart wasn’t happy with the February issue. Boodro — who injected a livelier, more approachable tone to some of the magazine’s stories on home decor and crafts — will be replaced by Gael Towey, the founding art director of the magazine who, since 2005, has served as chief creative officer. Boodro told WWD that his last day is Friday, allowing him to close the April Issue. He noted that he has a few projects in the works and will probably do some freelance writing. Before joining Martha Stewart Living, Boodro was the editor in chief of Culture & Travel.

According to Audit Bureau of Circulations’ Rapid Report, for the last six months of 2008, Martha Stewart Living sold an average of 326,922, compared to 271,544 copies sold during the first half of the year. Boodro is just the latest high-profile editor to leave the company; it was only a few weeks ago that Martha Stewart Living Omnimedia replaced the editor in chief of Everyday Food, Debra Puchalla, with Anna Last, formerly senior style editor at Real Simple.

— A.W.

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