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THOMSON: THOMSON: Thomson progresses in the restructuring of its balance sheet

^{Published on 2009-06-15 10:25:32, Last Modified on 2009-06-15 10:26:14 - Market Wire}
 

PARIS--(Marketwire - June 15, 2009) - Thomson progresses in the restructuring of its balance sheet

Thomson (Euronext 18453; NYSE: TMS), worldwide leader of services to content creators, provides an update on its balance sheet restructuring. During the past six weeks, in-depth and constructive discussions have taken place with Thomson SA's private placement noteholders and lenders under the syndicated credit facility.

Following these discussions, the private placement noteholders and lenders under the syndicated credit facility are now considering the key terms of a restructuring proposal by Thomson.

The proposal contemplates a significant reduction of the group's debt through a conversion of debt into equity, as well as the ability for existing shareholders to participate in the recapitalisation of the company. The terms of the proposal will not be made public at this stage.

Consequently, Thomson and its senior creditors have decided to extend the waivers in place to 24 July 2009.

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Certain statements in this press release, including any discussion of management expectations for future periods, constitute "forward-looking statements" within the meaning of the "safe harbor" of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements due to changes in global economic and business conditions, "media and entertainment" markets, and regulatory factors. More detailed information on the potential factors that could affect the financial results of Thomson is contained in Thomson's filings with the U.S. Securities and Exchange Commission.

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About Thomson:

Thomson (Euronext Paris: 18453; NYSE: TMS) is a worldwide leader of services to content creators. [ http://www.thomson.net ]

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