Tag Archives: media empire

MediaGuardian: Montgomery empire has two months to solve financial woes

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.'”