RCN’s [RCNC] lenders again have agreed to extend their previously announced forbearance pact, this time until June 1. Negotiations between the overbuilder and its sr secured lenders on a restructuring of its balanced sheet continue. — Counting on the industry’s continued need for expansion capital, media-focused investment bank Veronis Suhler Stevenson launched a 5th investment fund. The fund will concentrate on companies in cable, advertising, radio, satellite and broadcasting, among others. Rather than offering equity investments, the mezzanine fund will be VSS’s first to make investments through subordinated debt or redeemable preferred stock, the company says. Typical transactions are expected to range from $10mln to $75mln. VSS’s goal for the fund is reportedly $350mln. VSS is the primary investor in CableFAX parent Access Intelligence (formerly PBI Media). – Mavis Scanlon

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