MediaGuardian: Montgomery empire has two months to solve financial woes

December 23rd, 2008Posted by Judith Townend in Editors' pick, Journalism

Former Mirror Group boss David Montgomery secured a two-month stay of execution for his 'media empire', as it 'tries to renegotiate its debts amid rising concern about its future,' reports the Guardian. "Mecom, which has debts of almost £600m, compared with a stockmarket value of £13.5m, said it was in talks with its banks about amending its overdraft 'so as to provide financial stability in the medium term.'" Full story...

Tags: David Montgomery, Mecom, media empire

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MediaGuardian: Montgomery empire has two months to solve financial woes

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