Struggling newspaper publisher Gatehouse Media Inc. has had its lines of credit reduced by $35 million through an amended loan agreement with its lenders.
The amendment agreement also enables Gatehouse to repurchase certain outstanding term loans at prices below par value, assuming it doesn’t default on those loans and can meet certain liquidity and credit benchmarks at the time of purchase.
Thursday, February 26, 2009
Article: GateHouse Media $1 billion in debt
GateHouse Media is $1 billion in debt and its credit line has been reduced by $35 million, according to an article in the Boston Business Journal: