Augusta-based Morris Publishing gets forbearance

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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.

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Riverman1
94245
Points
Riverman1 07/31/09 - 06:51 pm
0
0
I'm not sure if I should be

I'm not sure if I should be happy or sad for Morris. "In addition, the forbearance agreement incorporates Morris Publishing's anticipated failure to make the $9.7 million interest payment due on Aug. 3."

my.voice
5180
Points
my.voice 07/31/09 - 06:56 pm
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0
I wrote the AC regarding

I wrote the AC regarding implementing new technologies for sales of newspapers electronically. I was told they are doing FINE. Hmmm, maybe you guys need a new calculator?

gargoyle
21089
Points
gargoyle 07/31/09 - 08:01 pm
0
0
If the AC goes under who will

If the AC goes under who will get the contract to post legal notices ?

imdstuf
10
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imdstuf 07/31/09 - 08:03 pm
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0
I hope things pick up for the

I hope things pick up for the company. I may not agree with their editorial page, but otherwise I like the paper.

FedupwithAUG
0
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FedupwithAUG 07/31/09 - 11:24 pm
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0
More time for Billy to hide

More time for Billy to hide some money.

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