Morris Publishing Group LLC today announced it has received a fourth extension on making a $9.7 million interest payment on its senior subordinated notes. Holders of more than 80 percent of the notes have agreed to extend the payment, originally due on Feb. 1, to May 28.
The company also reported that the senior bank group agreed to waive until May 28 the default arising from the overdue interest payment.
According to documents filed with the Securities Exchange Commission, the publishing company owes $226 million on the $278.4 million notes.
Augusta-based Morris Publishing owns and operates 13 daily newspapers, including The Augusta Chronicle and The Times-Union in Jacksonville, Fla.