Saturday, January 17, 2009

Waiver extended ... until Jan. 30

Lee did get an extension on that waiver on its $306 million debt from buying the Pulitzer papers. It was supposed to expire Friday. Now the company has until Jan. 30 to figure out something else. The extension does help the paper avoid technical default, and land in bankruptcy.

The notes on the Pulitzer purchase are due in April. No word on what the company will do then either.

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