Barry OCallaghan

Hedge-fund manager John Paulson has completed a restructuring plan to save the troubled publisher Houghton Mifflin Harcourt from the billions of dollars of debt acrrued by its parent company, Education Media and Publishing Group.

As Irish publishing magnate Barry O'Callaghan tries to save Education Media & Publishing Group from collapse under more than $6 billion in debt, the publisher's savior may be hedge-fund manager John Paulson.