- 101 - Part II of Times Mirror’s 1999 Form 10-K contained, among other information, management’s discussion and analysis of the company’s financial condition and results of operations, audited consolidated financial statements for Times Mirror, and the notes to the company’s consolidated financial statements. The portion of part II that comprised management’s discussion and analysis of Times Mirror’s financial condition and results of operations contained the following statements: Overview * * * * * * * 1999 Recapitalization In September 1999, the Company completed a recapitalization transaction with its largest shareholders, the Chandler Trusts, in which the Company, including certain of its affiliates, and the Chandler Trusts each contributed assets worth $1.24 billion to TMCT II, LLC, a newly formed limited liability company. The 1999 recapitalization resulted in a net effective reduction, for financial reporting purposes, in the number of shares of the Series A and C common stocks by 12.4 million shares and in the Company’s Series C-1 and C-2 preferred stocks by 501,000 shares. * * * * * * * * * * Liquidity and Capital Resources * * * In 1999, funds from the Company’s investment affiliates created as part of the 1998 divestitures of the Company’s legal and medical publishing businesses, as well as proceeds from new debt issuances were used to finance the 1999 recapitalization and acquisitions. In the second half of 1998, the company utilized a portion of the investment affiliates resources for share purchases and acquisitions. * * *Page: Previous 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 Next
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