Morris Publishing obtains extension of forbearance on overdue interest payments

AUGUSTA, Ga. - Morris Publishing Group LLC announced Friday that it has obtained an extension until Aug. 28 to make two semi-annual interest payments of $9.7 million on its senior subordinated notes originally due Feb. 1 and Aug. 3.

The holders of more than 80 percent of the outstanding amount of senior subordinated notes have agreed to extend the forbearance period for these payments.

Morris Publishing's senior bank group also agreed to extend until Aug. 28 the waiver of the cross defaults arising from the overdue interest payments 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 nondaily newspapers, city magazines and free community publications in the Southeast, Midwest, Southwest and Alaska. For more information, visit the Morris Web site at morris.com.

In the Brainerd lakes area, Morris Publishing owns the Brainerd Dispatch, Lake Country Echo and the Pine River Journal.