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12-11-2008, 05:29 PM #1
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Univision In Financial Trouble
(What a shame. /sarcasm )
http://blogs.wsj.com/deals/2008/12/11/u ... -troubles/
Univision Communications, the Spanish-language broadcaster taken private last year in a $12.3 billion leveraged buyout led by media mogul Haim Saban. Univision was downgraded Thursday by Moody’s, its second downgrade this year, and it posted a $2.9 billion loss in the third quarter. Its ratio of debt to cash flow may be as high as 13 to 1.
Univision is struggling to make payments on its nearly $10 billion of debt, for which the payments rose by $845 million this year, because cash flow is falling precipitously and cash on hand is declining. The company had a little more than $700 million in cash and short-term investments as of Oct. 31."Always vote for principle, though you may vote alone, and you may cherish the sweetest reflection that your vote is never lost." -- John Quincy Adams
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