Morris Newspapers Gets 9th Extension For Interest Payments
August 4, 2009 at 5:07 AM (PT)
MORRIS COMMUNICATIONS CO. newspaper division MORRIS PUBLISHING GROUP, LLC has gotten a ninth extension of time for the FEBRUARY 1st $9.7 million interest payment on its senior subordinated notes.
The company, which owns 13 daily papers and other publications, now has until AUGUST 14th to make the payment and has obtained a waiver of the cross default arising from the overdue interest payment on about $278.5 million in senior subordinated notes through AUGUST 14th. The present extension is for two weeks; the company had been receiving full month waivers to this point.
MORRIS' radio division owns stations in CALIFORNIA, WASHINGTON state, TEXAS, ALASKA, KANSAS and MONACO.