Report: Mecom wins another reprieve from its lenders
Posted
by
Paul McNally
on 23 February 2009
at 12:58
Tags: Media Business, National Newspapers
David Montgomery’s European newspaper group, Mecom, is reported to have bought itself some more time to get its finances back in order.
In December, the publisher was given a two-month reprieve before its lending banks ran a test to check it was operating within its covenants.
Since then, Mecom has sold its German business and some of its Norweigan titles in a bid to reduce its debt levels.
