RE: about the preferred dividends and conversion
IMHO, YLO is more likely to create a new series of preferred shares, most likely for the A series. That one is the most pressing as it comes due in Dec 2012. The B series can run until 2017
Either way, they are not likely to force conversion when the SP is below $2. One of the selling features of preferred shares is they are considered 'safe'. To force a preferred share holder to take a needless loss like that is not very good PR, and not very good business for the longer term. Those with the money seem to do okay and IMHO, they will be taken care of, here. Yellow Media needs them on their side for FUTURE financing.