--(www.USEquityNews.com)-- 06/05/2008 - Broadcasting industry alert provided by U.S. Equity News. WORLDSPACE(R) Satellite Radio (NASDAQ: WRSP), one of the world leaders in satellite-based digital radio services, announced that, it entered into letter agreements with each of the four holders of the Company's secured notes dated as of June 1, 2007 (the "Bridge Loan Notes") and Amended and Restated Convertible Notes dated as of June 1, 2007 (the "Convertible Notes"). Under the terms of the agreement, the note holders have agreed to defer until June 30, 2008 the Company's obligation to pay $17.7 million in principal amount of the Bridge Loan Notes plus accrued but unpaid interest due on the Bridge Loan Notes and Convertible Notes, and to forbear exercising their rights and remedies with respect to the payment default.
The "106.7 (NYSE: CCU) Lite fm Presents Broadway in Bryant Park 2008" series kicks off on Thursday July 10th at 12:30PM on the Bryant Park Stage. The event is presented by Bank of America (www.bankofamerica.com). This FREE lunchtime series (12:30-1:45pm) takes place over six consecutive THURSDAYS: July 10, 17, 24, 31 and August 7, 14. Each week "106.7 Lite fm Presents Broadway in Bryant Park" will feature live performances from the hottest on and off-Broadway shows, and will be hosted by WLTW's air personalities. This seventh annual summertime series offers first come-first served seating on the lawn. Bryant Park is located behind the New York Public Library on 6th Avenue between 40th and 42nd street. Bank of America will be offering an opportunity to win free Broadway tickets for an entire year. Anyone who stops by the Bank of America tent on the fountain terrace at Bryant Park from 11am-2pm on Broadway in Bryant Park dates can enter to win.
LIN TV Corp. (NYSE: TVL), a local television and digital media company, announced recentlythat negotiations with Charter Communications, Inc. ("Charter"), appear unlikely to result in a retransmission consent agreement. As a result, LIN TV expects Charter to discontinue carriage of its television stations when the current contract expires on June 30, 2008. Eleven LIN TV-owned and/or operated local stations are currently carried by Charter in the following markets: Grand Rapids; Green Bay; Hartford-New Haven; Springfield (Mass); Dayton; Providence and Toledo.
247MGI, Inc. (OTC: TOFS) ("247MGI") is pleased to announce that a substantial shareholder of the Company has agreed to send back to the Company 40 million shares of common stock to be canceled for Preferred shares in the Company. 247MGI has been working on this transaction for awhile and expects the certificates back in its possession within the next couple of weeks. When the 340 million share of common stock are canceled the number of outstanding shares will be 59 million, a big enough reduction for the Company to move forward with its planned reduction of the Authorized shares to 90 million. 247MGI is placing a Paypal link on its website to raise money to send calling cards to our troops. Please donate whatever you can so our men and women of the military can do what we do everyday, call home!
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