Mecom gets more time for talks with lenders
By Andrew Grant-Adamson • Apr 2nd, 2009 • Category: JournalismThe folly of believing that newspapers can be successful on a sea of debt is further demonstrated by the situation of David Montgomery’s Mecom business which has gained a further extension, until April 30, for discussions with its lenders.
The Telegraph refers to the “spectre of possible insolvency” in its report. Before the recent sale of German and Norwegian newspapers for £197m Mecom’s debt stood at £547.
Andrew Grant-Adamson is Andrew Grant-Adamson is a journalist who now teaches a new generation of writers, subs and editors at the University of Westminster.
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