The McClatchy Co., facing falling revenue and profit, renegotiated its bank loans Friday to win greater financial flexibility. While the company says it's in no danger of defaulting or missing a debt payment, it was seeking greater latitude from its lenders. "The impact of the current environment on our cash flows necessitated taking the initiative," Chief Financial Officer Pat Talamantes said in a news release. But the agreement comes at a price. The Bee's owner will have to pay a higher interest rate. Its line of credit has been scaled back. And it could be prohibited from paying any shareholder...
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