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DENVER—Two newspapers are reporting that Denver-based ap Inc. has reached an agreement with its lenders and bondholders to delay a principal payment on its debt.
The Wall Street Journal and The New York Times, citing unnamed sources, reported the company reached an agreement to pay only the interest on a payment due March 31 while it renegotiates with lenders.
MediaNews President Joseph Lodovic did not immediately return a phone message Friday from The Associated Press.
MediaNews newspapers include The Denver Post. The company, which is struggling with heavy debt and falling advertising revenue, has sought concessions from unions to reduce labor costs.
