Log In   |  Register Free Newsletter Subscription
Skip navigation
Zibb
Subscribe to Broadcasting & Cable
Email
Print
Reprints/License
RSS

FCC OKs ION Media Networks Buyout

Private-Equity Firm Citadel Investment Group to Invest $100M in 60-TV-Station Group

By Michael Malone -- Broadcasting & Cable, 1/2/2008 3:53:00 AM MT

The Federal Communications Commission approved Citadel Investment Group’s buyout of ION Media Networks earlier this week, saying that the transaction will “serve the public interest.”

The commission’s approval was a blow to a group of investors that filed a complaint regarding NBC Universal’s involvement in the transaction.

NBCU transferred its stake in ION to Citadel in May. NBCU is prohibited from exercising control over ION due to ownership regulations, but it will retain a minority interest.

The private-equity firm pledged to invest $100 million in the 60-station group.

ION airs vintage programming such as Alice, Who’s the Boss? and the recently acquired Drew Carey Show.

Email
Print
Reprints/License
RSS
Talkback
Related Content
Also by Michael Malone

Reed Business Information Resource Center

Featured Company


Related Resources

Advertisement
No content
free marketing module graphic
Advertisement
BC Subscribe
B&C NEWSLETTER
B&C Today
HD Update
Cable Technology
VOD Newsletter
Hispanic TV Update
TechTalk
HD Programming
Multicultural Newsletter
B&C NewsCentral
Television Careers



Please read our Privacy Policy

About Us   |   Advertising Info   |   Submissions   |   Site Map   |   Contact Us   |   Affiliate Links   |   RSS
© 2009 Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
Use of this Web site is subject to its Terms of Use | Privacy Policy
Please visit these other Reed Business sites