Ion Plan Supplement Fleshes Out Post-Ch. 11 Details

Law360, New York (October 29, 2009, 3:34 PM EDT) -- Television network owner and operator Ion Media Networks Inc. has filed a supplement that fleshes out many of the details of its prepackaged Chapter 11 restructuring plan.

The 349-page supplement, filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, lays out details ranging from the operation of the restructured company's board of directors to the warrants issued to creditors.

The supplement also says Ion Media would not be permitted to sell all or substantially all of its assets in one transaction....
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