Tuesday, April 8, 2008

Will Tribune Resort to Credit Lines?

There's probably no other choice, since the company (parent of the LAT) is among the many that won't have enough cash to cover debt repayments over the next two years. Credit lines become the last-ditch alternative. But even if Tribune taps its entire $750 million credit line, it still may not be able to pay back debt that matures in the next two years. By the way, Tribune bonds due in 2015 have fallen to 37 cents on the dollar. [Bloomberg]
[LA Biz Observed]

> Journal Register stock plummets on bankruptcy report
> Details on wide Seattle Times cuts emerge: Layoffs and closing bureaus
> In six months, they'll all be idiots, too
> Harbinger presses Media General Sphere: Related Content

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