Beleaguered publisher American Media has once again been forced to extend a tender offer aimed at getting bondholders who hold $570 million in securities to swap them for new higher-interest notes and an equity stake in the company.

After bondholders rejected the last tender offer that expired Tuesday, AMI, which publishes the National Enquirer and Star magazine extended its new offer to Oct. 28.

AMI for the first time acknowledged the negotiations with an “ad-hoc committee of bondholders” regarding a possible new agreement.

Debtwire, a trade publication that tracks distressed companies, had previously said that Avenue Capital Management and Angelo Gordon are leading a push by dissident bondholders for a greater equity stake under the new deal and have retained law firm of Akin Gump to negotiate.

The bondholders were said to be upset that the original investors, including Thomas H. Lee Partners, Evercore and CEO David Pecker, were trying to retain large equity stakes in the new alignment.

AMI declined to comment.