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Block Communications Inc. Dec 11

  • ID: 2031924
  • December 2011
  • Standard & Poors
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  • Block Communications Inc.
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Well-run, technically proficient cable systems; and A measure of business segment diversity. Exposure to single market in core cable segment; Two newspapers continue in secular decline; and Expectation that newspapers will continue to generate negative EBITDA. The ratings on Toledo, Ohio-based media and cable TV operator Block Communications Inc. reflect limited business and geographic diversity; Standard & Poor's Ratings Services' expectation of continuing, substantial cash drain from the newspaper segment; and an "aggressive" financial profile (as defined in our criteria). The rating does recognize that despite lack of scale economies, Block's key cable TV unit has performed well and generated better-than-average operating metrics. To reported debt of about $255 million at Sept. 30, 2011, we add approximately $115 million of...

Companies mentioned in this report are:
- Block Communications Inc.

Action: Review

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Research Type: Full Analysis

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- Block Communications Inc.

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