Barrington Broadcasting Group buys back $67.8 million of 10½% notes for $11.6 million

By Angela McDaniels

Tacoma, Wash., May 12 - Barrington Broadcasting Group LLC repurchased $67.8 million principal amount of its 10½% senior subordinated notes due 2014 for $11.6 million during the first quarter, according to its earnings release.

The company said it may seek to retire or purchase additional notes through cash purchases and/or exchanges in open-market purchases or privately negotiated transactions.

As previously reported, Barrington amended its credit agreement on Feb. 5. Among other things, the amendment allows Barrington to use up to $13.0 million of cash through Feb. 23, 2010 to purchase and retire a portion of the 10½% notes.

Barrington is a Hoffman Estates, Ill.-based acquirer and operator of television stations.

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