Wenner Media is attempting to refinance about $200 million in debt, but — according to The New York Post — things aren’t going smoothly. The debt has been around since 2006, when the company bought out Walt Disney’s share of the joint venture that had owned Us Weekly.
Most of the loan is due by next October, so Wenner Media still has time, but Standard & Poor doesn’t think it will be easy. S&P gave the debt a “B” rating just a few days ago, and stated that the “outlook is negative, reflecting our view that leverage will remain elevated as a result of unfavorable secular industry trends.”
For what it’s worth, Wenner Media feels confident that everything will work out. “The company’s refinancing process is going very smoothly, and we anticipate that it will be completed in a timely manner,” a spokesperson told the Post.