Tweet

Ion's Burgess Warns Of Credit Crisis

By John Eggerton -- Broadcasting & Cable, 10/5/2008 8:00:00 PM

Brandon Burgess, chairman of Ion Media Networks, said last week that the current credit crisis could affect “the entire broadcasting industry.”

“I am not aware of any broadcaster out there that does not rely on the credit markets, and most rely too much so,” he told a Media Institute luncheon crowd in Washington, D.C., on Oct. 1.

He said that though Wachovia had “millions of dollars of Ion's money” on deposit, it would not lend the network $1 million to open an office space in New York using their deposit as collateral.

Tweet

Talkback

We would love your feedback!

Post a comment

» View All Talkback Threads

Related Content

• Topics
• Author
• Most Popular Pages

No related content found.

Also by this author

• Walden Sees Aereo as Potential Marketplace Disruptor

• Comcast's David Cohen: U.S. Broadband Is World Class

• Pritzker: Commerce Will 'Look Harder' for Government Spectrum

• Pai: FCC Should Let Marketplace Decide Price of Auctioned TV Spectrum

• FCC Says Supreme's Decision Backs Its Open Internet Order Authority

Also by John Eggerton

Most Popular Pages

No Top Articles

• Resource Center
• Browse Categories
• Browse Companies

Featured Company

• Mixpo

  

  Mixpo is a video advertising technology provider that enables publishers, ad networks, and agencies to easily deliver dynamically tailored, interactive video ads that are customized in real-time for unique audience segments. Our platform also provides automatic multivariate testi..more

---

Most Recent Resources

• The New Normal for Promoting Tune-in
• Achieving Operational Freedom in Digital Media Workflows