|
In response to
"How much debt? $50 million cap means nothing if they owe a zillion dollars. -- nm"
by
Mop
|
That's the rub. $3.2 billion in four seperate debts.
|
They leveraged hard to make the newspaper purchase play in 2000 and then again with the cable company purchase in 2005 (2006?). So long as the cashflow was strong, they could manage the debt, however once the ad market went to pot, they were(are) screwed.
It won't be the current management group making the money on this deal. That's for damned sure. But there is too much value in the parts for money not to be made on this deal.
|