Shearman & Sterling represented the initial purchasers in connection with Block Communications, Inc.’s (BCI) private placement of $250 million of its 7¼% Senior Notes due 2020 and the dealer manager and solicitation agent in connection with BCI’s concurrent tender offer and consent solicitation for its existing 8¼% Senior Notes due 2015. Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC acted as joint bookrunning managers for the notes offering, with PNC Capital Markets LLC, Comerica Securities, Inc., and Fifth Third Securities, Inc. acting as co-managers. Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as sole dealer manager and solicitation agent in connection with the tender offer and consent solicitation.

The proceeds from the offering were used to fund the tender offer and consent solicitation and to repay BCI’s existing term loan indebtedness. The notes are guaranteed by all existing subsidiaries of BCI.

BCI is a privately held diversified media company with operations in cable television, telecommunications, newspaper publishing and television broadcasting.

The following Shearman & Sterling team advised on these transactions: partners Michael Benjamin (New York–Capital Markets), Doreen Lilienfeld (New York–Executive Compensation & Employee Benefits), and Craig Gibian (Washington, DC–Tax); counsel Jason Pratt (New York–Real Estate/Environmental); and associates Lesley Janzen (New York–Capital Markets), Fraser Hartley (New York–Capital Markets), Luna Bloom (New York–Capital Markets), Zana Murdock (New York–Capital Markets), Jonathan Skinner (New York–Real Estate/Environmental) and Judy Fisher (Washington, DC-Tax).