Ion preferreds prefer to take the deal


After battling in court for a better deal, and being rebuffed by the bench in their efforts to block an exchange of preferred stock for new securities, it appears that most preferred shareholders at Ion Media Networks decided to take the sure thing. TVBR hears that more than 90% of the holders of both issues of preferred stock tendered for the exchange before it closed on Friday. A final tally is expected today from the company.