It seems like a new deal is revealed every day as the media industry continues to consolidate, be bought out or taken private.
Today it happened again as EchoStar Communications Inc. (DISH) reportedly made a $2.13 billion buyout offer to ION Media Networks (ION). The deal was said to have been rejected
This is interesting in that NBC Universal (GE) and Citadel, some larger shareholders and a hedge fund had made an offer for the company that was in the process of being approved, although other shareholders that said the offer was too low threatened to sue if it was given the ok.
EchoStar is the second largest satellite TV provider in the country with over 13 million subscribers.
ION used to be Paxson Communications, and it has its own network and 60 TV stations. Its home is in West Palm Beach, Florida.
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