Ion Media Networks no longer has public stock, but it does have public bonds so it is still making public reports on its finances. Broadcast cash flow shot up 65% in 2007 to 98.3 million, owing to the company’s streamlining and reorganization. However, that won’t continue this year. “With our recapitalization process completed, we have turned our attention to building a sustainable business. 2008 will require greater investment to grow our network through higher programming spending, consumer marketing and digital capital expenditures,” said Chairman and CEO Brandon Burgess. Ion is projecting that broadcast cash flow will drop to 10.4 million this year. Year-to-date, 2008 has shown unexpectedly difficult market conditions compared to plan, driven by three factors: a recessionary environment, a slow television commerce product pipeline, marked by a downturn in infomercial spending by real estate related businesses, and increased competition from other local stations making more time periods available for infomercials, the company said.
