Morris Publishing gets extension

Friday, Aug 14, 2009 6:08 PM
Last updated 8:26 PM
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Augusta-based Morris Publishing Group announced today that it has obtained an extension until Aug. 21 to make two semiannual debt interest payments of $9.7 million that were originally due Feb. 1 and Aug. 3.

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.

The bank group also agreed to extend until Aug. 21 a waiver of default arising from the overdue interest payments.

Morris Publishing owns The Augusta Chronicle and 12 other daily newspapers.

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demented dave
0
Points
demented dave 08/14/09 - 08:12 pm
0
0
That Billy, getting

That Billy, getting multi-million dollar handouts and extensions while living in his big house, driving his big car, riding his fancy boat while the people who work for him can barely scratch by. That's a republican for you.

FAIR TAX Now
16
Points
FAIR TAX Now 08/14/09 - 09:21 pm
0
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So has Morris made no

So has Morris made no payments since before Feb. How much longer can they keep extending it. Sooner or later something has got to happen.

justus4
101
Points
justus4 08/14/09 - 10:43 pm
0
0
Nothing will happen except
Unpublished

Nothing will happen except the gravy train rolls along. These extensions are proof of that and what are the penalties involved with an extension? "We" already know that answer: None. Nothing new here except the rich getting richer and the ignorant getting poorer. Wow! What a great country!

concernednative
28
Points
concernednative 08/15/09 - 12:13 pm
0
0
Billy, is the prototype right

Billy, is the prototype right winger. Bash people that don't have anything say they want handouts, then milk the system to the end for their benefit. Yes, he is a good right winger. That is why the rich have it made in this country. You poor or middle class republicans call up BOA or Wells and ask for a 6 month forberance and I will see you at court for the foreclousure proceedings.

WW1949
19
Points
WW1949 08/15/09 - 12:42 pm
0
0
There is a slight difference

There is a slight difference in the amount of money involved.

storiesihaveread
358
Points
storiesihaveread 08/15/09 - 01:09 pm
0
0
He will weather this out

He will weather this out trust me.

Lobosolo
5
Points
Lobosolo 08/15/09 - 03:29 pm
0
0
Pay your bills or get out,

Pay your bills or get out, Billy, like everybody else. The city could use a respite from the constant barrage of extremism we have to endure from your paper everyday. The city might actually progress a little, as visitors to and people around the area would know that Augusta isn't as full of reactionary racists as the Chronicle believes there is. C'mon, Billy. sell this paper to someone that will use it as a voice of ALL the city, not just Columbia County. Augusta has been needing a responsible source of journalism for at least fifty years.

Craig Spinks
817
Points
Craig Spinks 08/15/09 - 04:47 pm
0
0
Can Billy's lenders afford to

Can Billy's lenders afford to write off his loans as bad debts against their capital positions and avoid BANKruptcy themselves? Quite possibly not.

rollingthunder
0
Points
rollingthunder 08/15/09 - 04:56 pm
0
0
demented, sounds like pelosi,

demented, sounds like pelosi, reid, kerry, kennedy, et al--oh, those are democrats, aren't they?

iknowitwheniseeit
1
Points
iknowitwheniseeit 08/15/09 - 05:47 pm
0
0
Can you say bankruptcy?

Can you say bankruptcy?

DEVGRU
0
Points
DEVGRU 08/15/09 - 06:41 pm
0
0
That bastard isn't going to

That bastard isn't going to suffer. His employees are.

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