You will be redirected back to your article in seconds

Whittle gets $ 150 mil in credit line

Whittle Communications L.P. said it received a $ 150 million line of credit that will be used to expand its media properties and create new ones.

Whittle executives said the credit agreement increases its overall revolving credit facility to $ 150 million from $ 90 million.

Gerry Hogan, a Whittle vice chairman, said the new credit line is a “more attractive financing package” that will refinance existing credit lines and fund the expansion of Channel One, a satellite-delivered news program for schools, from about 9,600 schools to more than 12,000 by end of this school year. The money will also go to develop the Medical News Network, an interactive video news service delivered to doctors’ desks by satellite. It is scheduled to begin operation early next year.

The credit refinancing doesn’t affect or involve Whittle’s ownership, which includes a 25% stake by Philips Electronics N.V. and a 37.5% stake owned by Time Warner Inc.

More Biz

  • Oprah Responds to Trump Tweet Claiming

    Oprah Responds to Trump's Tweet Claiming Bias in '60 Minutes' Segment

    Whittle Communications L.P. said it received a $ 150 million line of credit that will be used to expand its media properties and create new ones. Whittle executives said the credit agreement increases its overall revolving credit facility to $ 150 million from $ 90 million. Gerry Hogan, a Whittle vice chairman, said the new […]

  • Music Theatre International

    Drew Cohen Named Global CEO of Music Theatre International

    Whittle Communications L.P. said it received a $ 150 million line of credit that will be used to expand its media properties and create new ones. Whittle executives said the credit agreement increases its overall revolving credit facility to $ 150 million from $ 90 million. Gerry Hogan, a Whittle vice chairman, said the new […]

  • Michelle Wolf

    'Daily Show' Contributor Michelle Wolf to Host White House Correspondents' Dinner

    Whittle Communications L.P. said it received a $ 150 million line of credit that will be used to expand its media properties and create new ones. Whittle executives said the credit agreement increases its overall revolving credit facility to $ 150 million from $ 90 million. Gerry Hogan, a Whittle vice chairman, said the new […]

  • Harvey Weinstein ousted

    Weinstein Co. Sued by Lindt Chocolatier Over Canceled Golden Globes Party

    Whittle Communications L.P. said it received a $ 150 million line of credit that will be used to expand its media properties and create new ones. Whittle executives said the credit agreement increases its overall revolving credit facility to $ 150 million from $ 90 million. Gerry Hogan, a Whittle vice chairman, said the new […]

  • Pandora Shares Surge as Fourth-Quarter Subscription

    Pandora Shares Surge as Fourth-Quarter Subscription Revenue Climbs 63%

    Whittle Communications L.P. said it received a $ 150 million line of credit that will be used to expand its media properties and create new ones. Whittle executives said the credit agreement increases its overall revolving credit facility to $ 150 million from $ 90 million. Gerry Hogan, a Whittle vice chairman, said the new […]

  • Eric Schneiderman

    Weinstein Co. Deal Moving Ahead After Three-Hour Meeting With Attorney General

    Whittle Communications L.P. said it received a $ 150 million line of credit that will be used to expand its media properties and create new ones. Whittle executives said the credit agreement increases its overall revolving credit facility to $ 150 million from $ 90 million. Gerry Hogan, a Whittle vice chairman, said the new […]

More From Our Brands

Access exclusive content