Bringing in Blackstone, Strib means business; The Star Tribune owner's decision to hire heavy hitter the Blackstone Group shows the newspaper is serious about dealing with its debt issues.(BUSINESS)

From: Star Tribune (Minneapolis, MN) | Date: May 6, 2008| Author: Serres, Chris | Copyright information

Byline: CHRIS SERRES; STAFF WRITER

The Star Tribune's hiring of private equity powerhouse Blackstone Group could result in a fundamental restructuring of the paper's debt, a process that may include anything from new loan terms to additional equity investors in the paper, analysts said. Such a restructuring, coming only 15 months after Avista Capital Partners took possession of the Star Tribune, reflects just how rapidly the newspaper business -- and the credit markets -...

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