Radio One Gets New Loan, Eyes Bigger TV One Stake
(AP) — Radio One Inc., an owner of radio stations targeting African-American listeners, said Wednesday it is refinancing its debt and raising its stake in TV One LLC. The company said it has obtained a new senior secured credit facility, with a $50 million revolving credit facility and a $350 million term loan. It will use the proceeds to refinance all outstanding debt. Affiliates of Deutsche Bank will provide the revolving loan, and the bank will make efforts to syndicate the term loan.
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