Equity gets more credit


Equity Media Holdings says in an SEC filing that it has entered into a second amendment of its credit agreement with its lenders, Silver Point Finance and Wells Fargo Foothill. Under the terms of the amendment, the lenders have agreed to forebear exercising their rights and remedies under defaults by Equity of the terms of its loan agreement. The new forbearance only extends through May 5th, but, perhaps more importantly, the two lenders have agreed to make additional loans to Equity up to just under 5.5 million bucks, so the company appears to be on good terms with the lenders as its works to get its finances in order. Equity recently announced a deal to sell some stations and it took on a major new investor.