Morris Publishing Group has been granted a waiver of a $9.7 million debt interest payment that was due today.
Morris now has until Aug. 14 to make the interest payment on $278 million in debt that was originally scheduled to be paid Feb. 1. Holders of more than 80 percent of the outstanding amount of the notes have agreed to extend the forbearance period for the payment, the company announced.
In addition, the forbearance agreement incorporates Morris Publishing's anticipated failure to make the $9.7 million interest payment due on Aug. 3.
Augusta-based Morris Publishing owns The Augusta Chronicle and 12 other daily newspapers.