Gray Television said today that it has completed a series of debt principal payments totaling $53.75 million. These payments comprised a required principal payment of $3.75 million on March 29 […]
Sinclair Broadcast Group’s regional sports business and its creditors are preparing for a possible restructuring of its roughly $8 billion debt load, a sign of the pressure on the sports industry from COVID-19, according to people familiar with the matter. Sinclair subsidiary Diamond Sports Group’s bondholders have hired legal and financial advisers as it deals with the dearth of live sports during the coronavirus pandemic and the loss of some carriage deals with pay TV distributors.
The nation’s second largest cable operator, Charter Communications, said Monday it’s selling $1.5 billion in debt and could use the fresh cash to repay existing debt and fund share buybacks. It expects to close the offering of senior unsecured notes due in 2031 on July 9.
ViacomCBS on Tuesday said it has launched a cash tender offer for up to $1 billion to purchase outstanding debt securities. The Hollywood studio, led by CEO Bob Bakish, is the latest entertainment industry company to restructure its debt load amid the fallout from the coronavirus crisis.
The Walt Disney Co. has raised nearly $11 billion in a new debt offering as it continues to deal with the impact of the novel coronavirus pandemic on its worldwide businesses.
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Tips For Collecting After A Court Judgment
There will be times when an unpaid balance is large enough to warrant the time and expense of going to court. Getting the judgment turns out to be only half the battle. Collecting on it says Daniel Spilotro, managing member of Spilotro Law Group, is often the more difficult aspect. Here are some solutions.
Bad Debt Doesn’t Always Have To Be Lost
Before writing off bad debt there are a number of things you can do to recover some of this “lost” money. While calculating bad debt reserves may seem to be more relevant to the lives of accountants in your organization, there are ramifications to these calculations that can affect commissions and/or incentive compensation for your sales staff (and some management employees).
Gray Television Inc. today announced that during the year ended Dec. 31, 2010, it used cash from operations to make a total of $50.2 million in payments on its outstanding debt balances. Based upon preliminary unaudited information for 2010, Gray believes its outstanding indebtedness approximates $826.7 million composed of approximately $467.8 million of amounts outstanding under its senior secured credit facility and $358.9 million of amounts outstanding under its 10.5% senior secured second lien notes (excluding approximately $6.1 million of unamortized original issue discount).
