NH Business Finance Authority approves $1 million loan to sustain state's largest newspaper operation.

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  • Source:
    New Hampshire Business Review. 12/6/2024, p12-12. 1p.
  • Additional Information
    • Subject Terms:
      INVESTORS; BUSINESS finance; DEBT service; INDIVIDUAL investors; OPERATING budgets; RETIREMENT benefits; PENSIONS
    • Abstract:
      The New Hampshire Business Finance Authority approved a $1 million loan to the New Hampshire Union Leader, the state's largest newspaper, to support its financial stability and ensure employee pensions. The loan requires equity and collateral contributions from private investors, with rank-and-file employees continuing to receive 100% of their pensions. The newspaper sought the loan to address legacy debt, including pension plans, and projected salary cuts and stagnant wages over the next 12 years to stabilize finances. [Extracted from the article]
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