J.P. Morgan is set to launch a $1.1 billion facility backing the recapitalization of Freedom Communications. The facility is expected to come as a $100 million revolver, a $250 million "A" loan and $750 million"B" loan. Price talk on the "B" loan is LIBOR plus 21/4%. The ball park pricing on the pro rata could not be determined. The debt enables some family shareholders to remain in the business and others to cash out (LMW, 10/20). Blackstone Communication Partners, a fund of The Blackstone Group, and Providence Equity Partners are investing in the company. Calls to Blackstone and David Kuykendall, Freedoms's cfo, were not returned. A Providence spokeswoman declined comment.