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Media General Inc. Outlook Revised To Negative On Expected Drop In Ad Revenue In Nonelection Year Jun 11 Product Image

Media General Inc. Outlook Revised To Negative On Expected Drop In Ad Revenue In Nonelection Year Jun 11

  • Published: June 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
We expect U.S.-based diversified media company Media General's credit metrics and discretionary cash flow to deteriorate over the intermediate term because of declining publishing revenue and the absence of meaningful political advertising. We are revising our outlook on the rating to negative from stable. The negative outlook reflects our expectation that declining EBITDA and tightening covenants could lead to a covenant violation in 2012. CHICAGO (Standard & Poor's) June 9, 2011--Standard & Poor's Ratings Services said today it revised its outlook on Richmond, Va.-headquartered Media General Inc.'s 'B-' rating to negative from stable. The outlook change reflects our expectation that Media General could face difficulties in maintaining covenant compliance in 2012 due to the absence of meaningful election revenues and...

Companies mentioned in this report are: Media General Inc.
Action: CreditWatch Update
Action: Outlook: Negative

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Media General Inc.

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