Monday, September 21, 2009

Website: Bankruptcy filing on horizon for GateHouse Media?

Connecticut website The Day is raising the question of a possible bankruptcy filing for GateHouse Media.

Moody's Investor Service has downgraded credit ratings for GateHouse Media Inc. and raised the possibility that the company could file for bankruptcy to get out from under $1.2 billion in debt.

”The company has a very high debt burden of about one-and-a-quarter billion dollars,” said John Page, a Moody's vice president and senior analyst, in a phone interview. “The amount of cash the company generates is relatively modest in comparison. We feel a restructuring of the debt could well be an appropriate way to address its very heavy leverage.”


GateHouse Media owns The Carthage Press, Neosho Daily News, Pittsburg Morning Sun, and more than 300 newspapers across the United States.

7 comments:

Anonymous said...

The Neosho daily dissappointment needs to die it has no value to the fine citizes of southwest Misouri.

Anonymous said...

Don't worry, Gloria is slowly killing it already.

Anonymous said...

Anonymous 5:22
There are three spelling errors in your 18-word post alone.
And the Daily is a "dissappointment"?

Anonymous said...

The spelling errors were a true indicator that it was posted by a member of Gatehouse management.

Anonymous said...

Probably a Division Manager.

Anonymous said...

I see four.

Anonymous said...

I see four.