ION Media Networks (ION) Announces Denial of Motion for Preliminary Injunction and Extends Exchange Offer and Consent Solicitation
ION Media Networks, Inc. (AMEX: ION) announced that the Court of Chancery of the State of Delaware in and for New Castle County has denied the plaintiffs\' motion to enjoin the exchange offer and consent solicitation that the Company launched on June 8, 2007, in which the Company is offering to exchange any and all of its outstanding 13 1/4% Cumulative Junior Exchangeable Preferred Stock (currently accruing dividends at the rate of 14 1/4%) and 9 3/4% Series A Convertible Preferred Stock for newly-issued 11% Series A Mandatorily Convertible Senior Subordinated Notes due 2013 and, depending upon participation levels in the Exchange Offer, either newly-issued 12% Series A-1 Mandatorily Convertible Preferred Stock or 12% Series B Mandatorily Convertible Preferred Stock.
You May Also Be Interested In
- Auxilium (AUXL) Files Suit Against Watson (WPI) Over Testim 1% Gel
- BofA (BAC), Barclays (BCS) to Sell Remaining Archstone Interest in $1.58B Deal to Lehman Bros.
- Orthofix (OFIX) Divests Sports Medicine Business Unit; Applies $145 Million to Debt
Create E-mail Alert Related Categories
Corporate NewsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
