Station financing still hard to come by

Before the holiday weekend RBR/TVBR asked several experts for their thoughts on whether the dismal market for broadcast financings had changed at all, for good or ill, since our major report in the spring. We began publishing their responses yesterday.

Today, Robert Maccini of Media Services Group weighs in. He too sees tight money continuing for a while.

“I don't believe the credit markets are improving for broadcast deals and may continue to be thin for the foreseeable future,” Maccini told RBR/TVBR.

“Revenue is declining and this puts ever increasing pressure on existing deals and meeting loan covenants.  I believe we are going to see some further Chapter 11/Receivership filings.  While this may present opportunities from the point of view of the broadcaster I question whether financial institutions will see it that way,” he said.

It’s the old conundrum, then. The best deals may be had when there is no money available to financing them.

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