Scripps Refinances Loans

Scripps was in a pickle when it came to their loans. The company had payments coming up and needed to refinance or possibly head to bankruptcy.

The lenders knew that if Scripps went bankrupt, they would only collect pennies on the dollar. So, the lenders agreed to refinance the Scripps loan.

Scripps said about the refinancing, that it, “will provide Scripps the runway and liquidity to continue the progress of its strategic and operating initiatives.”

While FTVLive has no inside knowledge, we would bet that when the FCC relaxes ownership rules, you will likely see Scripps sell.

It really looks like their only option to get out of their massive debt and I am guessing that the lenders are hoping for the same thing.

Stay tuned…