Citadel, NBC Universal extend exclusivity period in bid for ION Media

By Lisa Kerner

Charlotte, N.C., April 10 - Citadel Investment Group and NBC Universal modified their Jan. 17 proposal to acquire ION Media Networks, Inc. by extending the termination date of the exclusivity period to Nov. 7, 2007 from May 7, according to a schedule 13D filing with the Securities and Exchange Commission.

Citadel had recently committed to investing an additional $100 million of capital to enhance liquidity as part of the deal.

ION is a West Palm Beach, Fla., network television broadcast company.

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