Public shareholders of Ion Media Networks tendered 40,624,885 shares of stock to Citadel Investment Group's CIG Media LLC by the Friday deadline and all have been accepted for payment of a buck-46 per share. With those shares and what Citadel already owned, it now has 89.9% of Ion's outstanding shares of Class A stock. In an attempt to lasso the rest, Citadel announced a second tender period running through Friday, June 15th, with the same 1.46 offer.
Sign up for free to get:
The Daily Intelligence Report delivered to your inbox.
RBR+TVBR delivers complete broadcasting news analysis and our famous observations.