Plan of Reorganization Contemplates Full Conversion of $150 Million DIP Facility and Extinguishment of Over $2.7 Billion in Legacy Obligations
ION Media Networks, Inc. (“ION”), owner and operator of the ION Television network, today announced that it, together with its debtor subsidiaries, filed a joint plan of reorganization (the “Plan”) and disclosure statement (the “Disclosure [...]

Company Initiates Voluntary Chapter 11 Process to Implement Pre-Negotiated Restructuring
Operations and Strategy to Continue Without Interruption
ION Media Networks, Inc. (“ION”), owner and operator of the ION Television network, today announced that it has reached an accord with a group of holders of over 60% of its first lien senior secured debt on the [...]

Discussions Target Conversion of Debt to Equity, Additional Funding, and Operational Continuity
ION Media Networks, Inc., (“ION”) owner and operator of the nation’s largest broadcast television station group, today announced that it is in discussions with its secured lenders with regard to a comprehensive recapitalization of the Company’s balance sheet. ION has hired financial advisor [...]

WCPX and KPXC Demonstrate Mobile DTV Service and Quality to Portable Devices
Trials Conducted in Major Markets Display Viability of Proposed ATSC Mobile DTV Standard
ION Media Networks, Inc., owner and operator of the nation’s largest broadcast TV station group and an industry leader in the development of mobile digital television (DTV), today announced two [...]