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Sport Media Group
- BY: Andrew Hore |
- POSTED: 07/01/2009 |
Sport Media Group, the publisher of the Sunday Sport and Daily Sport, has breached one of its banking covenants.
The bank has given Sport Media a two month extension to its facilities in order to give it time to negotiate revised terms.
Sport Media is also looking for alternative sources of finance.
Shares in Sport Media slumped 2.25p to 6.75p each, which values the company at £8.72m.
Full year figures will be published tomorrow (8 January).
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