Media Industry
Industry: Email Alert RSS FeedUS West faces $900M extra debt; SEC filing shows Continental Cablevision with more debt than originally projected.(US West Media Group, Continental Cablevision merger debt)
Broadcasting & Cable, September, 1996 by Colman, Price
SEC filing shows Continental Cablevision with more debt than originally projected US West Media Group could end up swallowing nearly $1 billion more in debt than originally projected when it acquires Continental Cablevision, financial documents show. US West Inc.'s second-quarter 10Q filing with the Securities and Exchange Commission puts Continental's debt at $6.4 billion as of March 31.
That's $900 million more than the $5.5 billion figure cited when the companies announced in late February what was then a $10.8 billion deal. The additional debt could boost the total to $11.7 billion. US West Media Group (UMG) officials have acknowledged since the outset that the debt figure was a moving target. The other moving target is UMG's stock...
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