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Originally published November 16, 2009 at 1:40 PM | Page modified November 16, 2009 at 3:46 PM

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Cyrus Capital extends $250M offer to finance ION

Investment firm Cyrus Capital Partners said Monday it has extended a $250 million offer to finance ION Media Networks Inc.'s exit from bankruptcy protection.

The Associated Press

NEW YORK —

Investment firm Cyrus Capital Partners said Monday it has extended a $250 million offer to finance ION Media Networks Inc.'s exit from bankruptcy protection.

The offer, which was rejected by ION Networks' board of directors, includes $100 million more incremental capital than an earlier offer accepted by the board, Cyrus Capital said.

The offer will stand until a bankruptcy court accepts or rejects it, said the firm, which disclosed it in a letter to the ION Networks' board.

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