Briefs

Tyler, Texas—Classic Communications Inc. said it is negotiating to amend its debtor-in-possession revolving credit facility.

The MSO said in a press release that it is not in compliance with certain covenants of the DIP facility, including those requiring it to maintain minimum levels of earnings before interest, taxes, depreciation and amortization.

The shortfall stems from a late 2001 marketing campaign that offered discount coupons to customers as a reward for their loyalty, particularly after Classic's Nov. 13 Chapter 11 bankruptcy filing, the MSO said.

It said the noncompliance constitutes an event of default under the credit facility. Classic expects to conclude talks shortly.

New York— Troubled NTL Inc. pushed back the release of its fourth-quarter and year-end 2001 results to March 27 from March 14.

Many analysts had expected NTL to release results on the earlier date. A company executive hinted as such at a London conference this month.

NTL is in the middle of a major restructuring of its $17 billion debt load. Investors have pressured it to either sell out or take on an equity partner, rumored to be Liberty Media Corp.

The company said it will also conduct a conference call with analysts on March 27 at 8:30 a.m. EST.