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Keyword: debtsqueeze

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  • AVISTA FACES DEBT SQUEEZE AT STAR TRIBUNE (Minneapolis Newspaper)

    06/02/2008 4:54:07 PM PDT · by shrinkermd · 17 replies · 117+ views
    NY Post ^ | 2 June 2008 | ZACHERY KOUWE
    June 2, 2008 -- The beleaguered Minneapolis Star Tribune has asked creditors to delay its debt payments for six months while it cuts costs and tries to rescue its ailing balance sheet. But "The Strib," as it is known locally, is meeting resistance from creditors that want the owners to inject $50 million of new equity into the company before granting any concessions, sources said. Avista Capital Partners, the New York private-equity firm that bought The Strib for $530 million about 15 months ago, recently hired the Blackstone Group to negotiate with creditors. Requesting such a delay, known as forbearance,...