|By Marketwired .||
|December 13, 2013 01:00 PM EST||
WEST PALM BEACH, FL--(Marketwired - December 13, 2013) - ION Media Networks, Inc. is announcing today that it expects to pay a dividend to its common shareholders of approximately $720 million.
ION currently expects that the dividend record date will be December 18, 2013. The per share dividend amount will be determined based on the aggregate number of common shares outstanding at the close of business on the record date, taking into account exercise activity in ION's outstanding warrants.
The post-dividend exercise price of certain warrants that remain unexercised by the record date will be reduced pursuant to the terms of the warrant agreement, subject to applicable law that may limit the exercise prices from being adjusted below the par value of the common stock.