ION Media Networks Reports Second Quarter 2008 Financial Results (Business Wire)

Tuesday August 19, 8:00 am ET WEST PALM BEACH, Fla.--(BUSINESS WIRE)--ION Media Networks, Inc. (the “Company” or “ION”) announced today its financial results for the quarter ended June 30, 2008. ION’s broadcast cash flow for the quarter ended June 30, 2008 was $4.1 million compared to $15.4 million in the second quarter of 2007. Broadcast cash flow for the six months ended June 30, 2008 was $17.1 million compared to $44.5 million in the first six months of 2007. Free cash flow after capital expenditures and interest expenses for the quarter ended June 30, 2008, was negative $22.5 million, compared to negative $9.9 million for the corresponding quarter in 2007. For the six months ended June 30, 2008, free cash flow after capital expenditures and interest expenses was negative $36.1 million, compared to negative $7.5 million... [read full story]