Macquarie Media warns on debt problem at U.S. unit
Published: 12 Oct 2009 14:44:40 PSTSYDNEY, Oct 13 - Australia's Macquarie Media Group <MMG.AX> warned investors about a potential debt problem at a U.S. unit, and said it was considering raising cash to pay down debt at Australian subsidiary Macquarie Southern Cross Media Pty Ltd.
The group said its American Consolidated Media LLC unit could breach its loan covenants, putting at risk the group's $81.2 million book-value investment in the U.S. firm. Macquarie Media is in talks with lenders to amend the covenants, it added.
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