Yes that's the approximate amount they have to pay due to the way he's done the financing of the deal. Keep in mind that the current interest is at a similar amount to there revenues from last year.
That's the reason to deeply cut expenses and to try and make more money. He could probably have serviced that debt if everything just kept going as normal (no big ad spend cut) and he had fired everyone but that's an impossible scenario.
That's the reason to deeply cut expenses and to try and make more money. He could probably have serviced that debt if everything just kept going as normal (no big ad spend cut) and he had fired everyone but that's an impossible scenario.