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PATHE COMMUNICATIONS CORP. ANNOUNCES INTEREST DUE APRIL 15 ON SUBORDINATED DEBENTURES WILL NOT BE PAID ON DUE DATE

 PATHE COMMUNICATIONS CORP. ANNOUNCES INTEREST DUE APRIL 15
 ON SUBORDINATED DEBENTURES WILL NOT BE PAID ON DUE DATE
 CULVER CITY, Calif., April 15 /PRNewswire/ -- Pathe Communications Corp. (NYSE: PCC) announced today that the interest due April 15, 1992 on $31,124,000 principal amount of Pathe's 12 7/8 percent senior subordinated debentures due 2001 and $3,761,000 principal amount of the 8 7/8 percent convertible senior subordinated debentures due 2001 will not be paid on the due date. Under the terms of the indentures governing these obligations, the company is permitted to make such interest payments, aggregating approximately $2.1 million, during the 30-day grace period without causing an event of default. The company is in discussion with its principal lender with respect to funding these interest payments. No assurances can be given as to the outcome of such discussion.
 Pathe is the holding company for MGM, which is involved in the worldwide production and distribution of motion pictures and television programs and operates theater chains in Europe.
 -0- 4/15/92
 /CONTACT: Craig Parsons of Pondel Parsons & Wilkinson, 310-207-9300, for Pathe Communications/
 (PCC) CO: Pathe Communications Corp. ST: California IN: ENT SU:


AL-KJ -- LA026 -- 8762 04/15/92 13:35 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
Words:205
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