Keymarket/Forever Restructures Debt
September 9, 2009 at 4:50 AM (PT)
KEYMARKET COMMUNICATIONS, FOREVER BROADCASTING and FOREVER COMMUNICATIONS have reached agreement with lenders on restructuring the companies' debt. The BANK OF MONTREAL and WELLS FARGO have agreed to the revamped $30 million credit facility, which has been extended to DECEMBER 2013.
The companies, headed by KERBY CONFER and DONALD ALT, owns stations in western PENNSYLVANIA, KENTUCKY, TENNESSEE, and OHIO, and recently LMA'd its Country WOGI (FROGGY 98.3)/DUQUESNE-PITTSBURGH to EDUCATIONAL MEDIA FOUNDATION.