AMERICAS DISTRESS DAILY: Allen Media Lenders Enter a Coop Pact

Some first-lien lenders to Allen Media Group have organized with Gibson Dunn & Crutcher for legal advice as part of an effort to maintain a united front as the broadcaster’s debt falls further into distress, according to people familiar with the situation.

Lenders to the company, which owns The Weather Channel and several network-affiliated stations, have signed a cooperation agreement that binds creditors to act together should the company want to pursue talks, said the people, who asked not to identified discussing a private matter.

“We’re 100% in compliance with all of our lenders,” a company spokesperson said in an ...