Journal Communications discussing revolver refinancing options

By Sara Rosenberg

New York, Sept. 7 - Journal Communications Inc. is in talks with lenders about refinancing alternatives for its revolving credit facility due to the current low interest rate environment, according to an 8-K filed with the Securities and Exchange Commission on Friday.

Currently, the revolver is scheduled to mature in December 2013.

The refinancing may be completed by the end of this year.

As previously reported, Journal Communications has received commitments from lenders to increase its revolving credit facility to $325 million through the accordion feature.

U.S. Bank, Bank of America and SunTrust Bank have agreed to provide the new commitments.

The company plans on drawing on the revolver and using cash on hand to fund the $215 million acquisition of WTVF NewsChannel 5 Network from Landmark Media Enterprises LLC.

Journal Communications is a Milwaukee-based diversified media company with operations in radio and television broadcasting, publishing and interactive media.

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