Report title: Summary: Block Communications Inc.
from S&P Credit Research
published May 22, 2009

Price $175.00 available for immediate download
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The ratings on Sylvania, Ohio-based media and cable TV operator Block Communications Inc. reflect limited geographic diversity from its small-scale, family-owned cable TV and media operations in economically distressed markets; advertising declines and secular circulation erosion in the high fixed-cost newspaper business; and subpar profitability at both the newspaper and TV broadcasting businesses. The rating also reflects high overall leverage. Mitigating factors include the cable segment's good competitive position against the key satellite TV operators and the local telephone companies, expectations for continued healthy revenue, and cash flow growth from increased penetration of advanced cable services. While overall financial performance is still supported by its healthy core cable TV business, the company's overall credit profile is hurt by the newspaper

Report Type: Summary
Ticker: 85163Z
Issuer: Block Communications Inc.
GICS: Publishing (25401040)
Sector: Global Issuers
Country: United States
Region: United States
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