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- In late 2009, a trio of private equity companies (Black Diamond Capital Management, Avenue Capital Group, & Trilogy Capital) purchased a 62.5% controlling stake in Ion Media Networks from the Ion Media Liquidating Trust (the legal entity selling the stake) through their partnership, Media Holdco L.P. (43.7% owned by Black Diamond via its BD Ion Media GP Holdings subsidiary; 15.8% by Trilogy via its Trilogy Ion, LLC subsidiary; & 40.5% by Avenue via its Avenue Ion Holdings LP subsidiary).
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By 2012, Media Holdco's stake in Ion Media Networks was at 87%, with the company's senior investors from previous rounds of financing holding 13%. Sometime in 2013, Ion Media Networks signed a deal with Liberty Media to bring the QVC and HSN networks to most of its Ion Television O&O stations throughout nationwide on digital subchannels X.5 and ...
Jan 7, 2021 · Diamond Capital Management LLC have closed Scripps’ acquisition of ION MediaNetworks Inc. Scripps is combining ION with the Katz networks and Newsy to create a full-scale national television networks business. Together, the national networks will reach nearly every American through free
Ion Television is a television network based in the United States made up of 44 owned-and-operated stations and 194 network affiliates, 164 of which broadcast as digital subchannels. [1] . The Ion-owned stations are a part of the Ion Media unit of Scripps Networks, a wholly-owned subsidiary of the E. W. Scripps Company. [2]
Jan 7, 2021 · CINCINNATI and GREENWICH, Conn., Jan. 7, 2021 /PRNewswire/ -- The E.W. Scripps Company (NASDAQ: SSP) and Black Diamond Capital Management LLC have closed Scripps' acquisition of ION Media...
Following the transaction, Black Diamond Capital Management will be the sole owner of Media Holdco, which currently owns an 87% equity stake in ION Media Networks. "The 'B+' rating on Media Holdco reflects our view of ION Television's modest ratings, minimal original programming, above-average use of infomercials, and limited track record since ...
Sep 24, 2020 · The proposed divestitures will allow the merged company to fully comply with the FCC local and national ownership regulations. Scripps has agreed to a transaction with a buyer, who has agreed to maintain ION affiliations for the stations. Anticipated closing: First-quarter 2021; ION Media financial highlights. 2019 revenue: $587 million
ION Media Investment Highlights • ION reaches more than 100 million homes through over-the-air and pay TV platforms and has consistently achieved annual revenue growth and EBITDA margins well beyond industry averages. • Today, it owns 71 broadcast television stations in 62 DMAs and reaches nearly 100
