SBS 8-K to affect affiliations?


SBS / Spanish Broadcasting SystemWhen Spanish Broadcasting System Series B Preferred Stock shareholders demanded a buyback 10/15 of $126.9 million worth of shares of the stock (but the company could only repurchase $2.5 million), it triggered the right of the shareholders to elect two directors to the board and added more restrictive operating covenants. One of those restrictions, “…enter into transactions with affiliates,” is raising some eyebrows:

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