Cyrus Wants Ion To Reconsider $250M Bid

B&C, November 19, 2009 4:38 PM EST

Cyrus Capital Partners says its $250 million offer to acquire the bulk of Ion Media Networks is still on the table, though Ion does not seem to be interested in the deal. Cyrus is a Chicago-based hedge fund and a creditor to Ion, which entered bankruptcy protection in May. The firm offered $250 million last week for a 62.5% ownership stake in Ion; another creditor had previously made a $150 million bid.

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