MediaCo Holding Inc. has entered into an amendment of its First Lien Term Loan Credit Agreement with White Hawk Capital Partners LP to delay default.

MediaCo had entered into the credit agreement in April 2024 as part of its purchase of Estrella Media. MediaCo received an initial term loan of $35 million will will mature on April 17, 2029 and a subsequent delayed draw facility of up to $10.0 million that may be provided for additional working capital purposes under certain conditions.

As part of the amendment filed today, MediaCo and its lenders agreed to extend the maturity date of the delayed draw term loans from October 31, 2026 to the earliest of November 30, the date on which the maturity of the Delayed Draw Term Loans is accelerated or deemed accelerated, or the date that is ninety-one (91) days prior to the maturity date of any indebtedness incurred and outstanding in excess of the threshold amount specified in the credit agreement. The amendment acknowledges that certain defaults have occurred and that the company and other loan parties reaffirmed their obligations and the security interests granted under the loan documents.

MediaCo was confirmed to have cut or furloughed multiple employees in New York last month amidst claims of multiple contractors going unpaid for work for months.