S&P has lowered Block Communications rating to negative due to poor broadcasting and newspaper business

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There has been continued deterioration of both Block's newspaper business and, to some degree, its TV broadcasting operations. We are lowering the corporate credit rating on Block to 'B+' from 'BB-'. The negative outlook reflects our expectation that continued weakness at the newspaper segment will result in adjusted leverage in the mid-5x range. On May 15, 2009, Standard & Poor's Rating Services lowered its ratings on Sylvania, Ohio-based media and cable TV operator Block Communications Inc., including its corporate credit rating which we lowered to 'B+' from 'BB-'. The outlook is negative. The downgrade is due to the continued deterioration of both Block's newspaper business and, to some degree, its TV broadcasting operations.

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