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Maryland Cable tells SEC it's still losing money
A cable TV operator with 75,000 subscribers in Prince George's County continues its downward spiral toward foreclosure, dragged down by a huge debt load it cannot shed.
Maryland Cable Holdings Corp. reported losing $6.2 million on revenue of $10 million for the first quarter compared with losing $5.8 million on revenue of $9.5 million for the first quarter in 1991. It is in default on some of its loan covenants and has been negotiating with its creditors for some time, the company said in its latest Securities and Exchange Commission filing.
"They told me they were still in negotiations with the bank to …