Ion Media Gets Green Light For $150M DIP Package

Law360, New York (July 2, 2009, 12:00 AM EDT) -- Ion Media Networks Inc. has won approval for its $150 million debtor-in-possession financing after having reached a settlement with its committee of unsecured creditors and overcome a second objection to the package.

Judge James M. Peck of the U.S. Bankruptcy Court for the Southern District of New York issued an order from the bench approving the package at a hearing Wednesday evening, according to Jonathan S. Henes, an attorney at Kirkland & Ellis LLP representing Ion Media.

The order was not placed in the electronic docket...
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