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ION Media Networks reports $2.57 million August operating loss
By Caroline Salls
Pittsburgh, Sept. 21 - ION Media Networks, Inc. reported a $2.57 million operating loss for August on $14.45 million in net revenues, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.
The figures showed improvement over the $3.28 million operating loss posted in July on $13.21 million in net revenues.
The net loss for August was $5.19 million, narrowing from a $9.13 million July net loss.
ION had cash and cash equivalents of $120.08 million at the end of August, up slightly from $119.28 million at the end of July.
ION is a West Palm Beach, Fla.-based television broadcaster. The company filed for bankruptcy on May 19. Its Chapter 11 case number is 09-13125.
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