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Media Works Facing Yet Another Restructure

Goldman appointed to assist with a distressed refinance of Mediaworks bank debt. 
Banks have indicated they will continue to make short term facilities available until 7 December whilst the company is in covenant default. 
Big pressure to complete something before the next covenant test on 31 December.
Will it be happy new year or receivership and liquidation ? 
You have to feel for most of the so called journalists, as who would hire them based on talent?
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