Education Media cuts costs to pay $7bn debt
January 14, 2009Dublin-based Education Media is "taking tough measures to save cash" in a bid to keep up payments on its $7bn (£4.8bn) debt, the Wall Street Journal reports. But analysts at Citigroup warned that while the cuts might help the company meet its debt payments in the short term, they "will ultimately erode the publisher's ability to compete", allowing competitors such as Pearson to win market share.
Source
http://www.thebookseller.com/news/74699-education-media-cuts-costs-to-pay-7bn-debt.html
Related companies
Education Media and Publishing Group Limited
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