Morris Publishing obtains extension
Owner of Dispatch has until July 31 to make overdue interest payment
AUGUSTA, Ga. - Morris Publishing Group LLC announced Wednesday that it has obtained an extension until July 31 to make a $9.7 million interest payment on its senior subordinated notes.
Holders of more than 80 percent of the outstanding amount of senior subordinated notes have agreed to extend the forbearance period for the payment, which originally was due Feb. 1.
Morris Publishing's senior bank group also agreed to extend until July 31 the waiver of the cross default arising from the overdue interest payment on the senior subordinated notes.
Morris Publishing Group LLC is a privately held media company based in Augusta, Ga. Morris Publishing currently owns and operates 13 daily newspapers as well as non-daily newspapers, city magazines and free community publications in the Southeast, Midwest, Southwest and Alaska. More information is available online at morris.com.
In the Brainerd lakes area, Morris Publishing owns the Brainerd Dispatch, Lake Country Echo and the Pine River Journal.