This is certainly good news. BK refinances the Pulitzer Notes at a lower interest rate and extends the maturity to coincide with the 2nd Lien Loan. When will Mary and Warren finally work out a deal where BK buys LEE? We all know Warren wants to buy the company.
Mr. Schmidt must have pulled this one from the same bag of tricks that he used in the bankruptcy. How many posters here would jump at the "opportunity" to lend to Lee at 9% behind nearly $700M in other debt?
He's not going to buy it. There's too much debt. Maybe in 4-5 years....when debt is down to $500 M....assuming the common stock is still undervalued, of course, and revenues stop shrinking.
from a recent NW Indiana Times article:
Times Media Co. Publisher Bill Masterson Jr. has been named vice president at Berkshire Hathaway's BH Media Group and will leave The Times in mid-May, the company announced Thursday.
Lisa Daugherty, Times advertising director and general manager of the company's Crown Point office, has been named interim publisher.
On Thursday, the 52-year-old Masterson said leaving The Times was the most difficult decision he has made in his long newspaper career.
"You guys are just doing an absolutely superb job," he said to employees at a morning meeting announcing the move. "I just love Lee Enterprises, The Times and Northwest Indiana."