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Morris Publishing interest payment deadline extended to Sept. 25
By Caroline Salls
Pittsburgh, Sept. 18 - Morris Publishing Group, LLC has obtained an extension to Sept. 25 of its deadline for making two $9.7 million semiannual interest payments on its senior subordinated notes, according to a company news release.
The payments were originally due on Feb. 1, 2009 and Aug. 3.
The holders of more than 80% of the outstanding amount of the senior subordinated notes have agreed to extend the forbearance period for these payments.
In addition, Morris' senior bank group has agreed to extend the waiver of the cross-defaults stemming from the overdue interest payments until Sept. 25.
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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