Saturday, June 7th, 2008...4:29 pm
Local Media Problems
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Local Media Problems All not well in Philly. Initial reports have stated that Philadelphia Media Holdings “did not maintain the necessary senior debt-to-cash flow ratio — which can happen when cash flow shrinks — required by its senior lenders, according to Standard and Poor’s Leveraged Commentary and Data unit,” AP reported. “As a result, senior lenders blocked the company’s interest payments to $85 million in junior loans held by another group of lenders. That’s because senior lend
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