Television station groups such as Nexstar, Gray, Allbritton and Barrington are struggling with debt loads, with leverage ratios large enough to put them at risk for breaching loan covenants, TVNewsday reports, citing analyst reports from Wachovia, Moody’s and SNL Kagan. “In most earnings call, particularly for [broadcast TV] pure plays, covenant violations have been the focus. Banks are getting more stringent on some of these covenants,” SNL Kagan analyst Justin Nielson says, according to the site.
—Aimee Picchi