SEC filing on Monday, Alden disclosed that it borrowed $278 million to complete the $630 million purchase, all of which is now on Tribune’s balance sheet, saddling the struggling publisher with a mound of debt.
Alden borrowed $218 million from private equity firm Cerberus and $60 million from MNG Enterprises, a digital media company owned by Alden.
The loan from MNG carries a 13% interest rate, which means that Tribune is on the hook to essentially pay Alden for its own purchase.
Read more on thewrap.com
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