Morris Publishing Group notes payment deadline extended to Sept. 4

By Caroline Salls

Pittsburgh, Aug. 28 - Morris Publishing Group, LLC has obtained an extension until Sept. 4 of its deadline for making two $9.7 million semi-annual interest payments on its senior subordinated notes, according to a company news release.

The payments were originally due on Feb. 1, 2009 and August 3.

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

In addition, Morris Publishing's senior bank group has agreed to extend the waiver of a cross default arising from the overdue interest payment until Sept. 4.

Morris Publishing owns and operates newspapers, city magazines and free community publications. The company is an affiliate of Morris Communications, a privately held media company based in Augusta, Ga.

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