Marc Tellier: "Yellow Media bondholders have no real leverage until next year"

Yellow Media Inc. president and CEO Marc Tellier: Yellow Media bondholders have no real leverage until next year, when the company must refinance its debt. The biggest risk is that in the meantime, morale at Yellow Media gets so bad that the company’s main asset, its sales force, starts leaving.

Graham Hughes/The Canadian Press

Yellow Media Inc. president and CEO Marc Tellier: Yellow Media bondholders have no real leverage until next year, when the company must refinance its debt. The biggest risk is that in the meantime, morale at Yellow Media gets so bad that the company’s main asset, its sales force, starts leaving.

Graham Hughes/The Canadian Press