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Critic's Corner Discuss a review. Provide constructive feedback. Talk to the industry. |
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Critic's Corner Discuss a review. Provide constructive feedback. Talk to the industry. |
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In Reply to: I don't get it... posted by Charles Hansen on April 28, 2009 at 13:11:33:
>The linked article says that the lenders wrote off $1 billion in debt and
>agreed to provide another $100 million in cash. So what do the lenders get
>out of the deal?
Ownership. By the end of May, Stereophile and all the other magazines in
Source Interlink Media's portfolio will be owned by a consortium of banks.
Why would banks rather have ownership than continued interest payments?
Because SIM's debt-to-revenue ratio was too high for continued healthy
operation and this way they get all the profits.
John Atkinson
Editor, Stereophile
This post is made possible by the generous support of people like you and our sponsors:
Follow Ups
- RE: I don't get it... - John Atkinson 17:24:31 04/28/09 (9)
- RE: I don't get it... - Charles Hansen 21:47:46 04/28/09 (8)
- Ironic - Frihed89 04:56:30 04/29/09 (7)
- It's called risk/reward and is fundamental to how investing works - JoshT 08:49:28 04/29/09 (6)
- the risk other peoples money and get rewarded if they win more or lose it -t - Sordidman 15:54:26 04/29/09 (1)
- What exactly are we talking about? - JoshT 17:00:47 04/29/09 (0)
- Because, seemingly... - jusbe 10:37:26 04/29/09 (3)
- Yes, I noticed, "big j" - JoshT 11:14:00 04/29/09 (2)
- This is what I meant NT - Frihed89 15:46:46 04/29/09 (1)
- What is "this"? - JoshT 17:02:59 04/29/09 (0)
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