Senior lenders win Young Broadcasting auction (Dealscape

Bankrupt Young Broadcasting Inc. is putting together a deal that would make its senior lending group its new owners. According to the advisor to the lenders, Kevin Shea, a managing director at Loughlin Meghji & Co., the bankrupt TV station operator will go to its senior lenders in a deal worth as much as $220 million.

Shea said that, at a hearing on Wednesday, July 15, in the U.S. Bankruptcy Court for the Southern District of New York in Manhattan, it was divulged that Young's senior lenders, led by Wachovia Bank NA, will credit bid a portion of what they're owed to make the deal. He said the senior lenders are owed about $339 million, plus another $15 million to $20 million in interest.

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212 in-depth reports of Bankruptcies in the Media sector
131 company pages related to Broadcasting
97 articles related to Young Broadcasting Inc.
25 in-depth reports of Bankruptcies advised by Loughlin Meghji & Co.
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NOT A SUBSCRIBER? Senior lenders win Young Broadcasting auction Posted on July 15, 2009 5:51 PM Bankrupt Young Broadcasting Inc. is putting together a deal that would make its senior lending group its new owners. According to the advisor to the lenders, Kevin Shea, a managing director at Loughlin Meghji & Co., the bankrupt TV station operator will go to its senior lenders in a deal worth as much as $220 million. Shea said that, at a hearing on Wednesday, July 15, in the U.S. Bankruptcy Court for the Southern District of New York in Manhattan, it was divulged that Young's senior lenders, led by Wachovia Bank NA, will credit bid a portion of what they're owed to make the deal. He said the senior lenders are owed about $339 million, plus another $15 million to $20 million in interest. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 212 in-depth reports of Bankruptcies in the Media sector 131 company pages related to Broadcasting 97 articles related to Young Broadcasting Inc. 25 in-depth reports of Bankruptcies advised by Loughlin Meghji & Co. 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Skadden Arps Idearc Inc. Deutsche Bank Amusement parks Deb Shops Windstream Corp. Concho Resources Hanna Andersson Tween Brands Edward Bastian		EXISTING USERS Username Password Forget your password? Missing a product?

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