Company Anticipates Plan Confirmation in Coming Weeks

New York, NY - November 12, 2009 - ION Media Networks, Inc. ("ION"), owner and operator of the ION Television network, today commented on statements made by the judge overseeing its Chapter 11 case in the United States Bankruptcy Court for the Southern District of New York. The Court indicated today that it will confirm ION's Chapter 11 plan of reorganization ("Plan") and issue a written ruling and confirmation order to that effect in the coming weeks. ION expects to emerge from Chapter 11 shortly thereafter.

"Today's ruling by the Court in favor of ION on all issues necessary for confirmation of our Plan is a major milestone," said Brandon Burgess, ION's Chairman and Chief Executive Officer. "This sets the stage for allowing ION's emergence from Chapter 11 as a competitive debt-free company with access to growth funding. We appreciate the support of our stakeholders and employees during our short time in Chapter 11 and look forward to continuing our positive momentum in the coming weeks and beyond."

As previously reported, the Plan extinguishes over $2.7 billion in legacy indebtedness and converts ION's $150 million DIP loan into permanent equity capital to fund growth.

Kirkland & Ellis LLP is serving as legal counsel to ION and Moelis & Company LLC is serving as financial advisor in connection with the restructuring.

About ION Media Networks
ION Media Networks, Inc. owns and operates the nation's largest broadcast television station group and ION Television, which reaches over 96 million U.S. television households via its nationwide broadcast television, cable and satellite distribution systems, and features popular TV series and movies from the award-winning libraries of CBS Television, NBC Universal, Sony Pictures Television, Twentieth Television and Warner Bros., among others. Using its digital multicasting capability, the Company has launched several digital TV brands, including ION Life, a channel dedicated to active living and personal growth. It also has launched Open Mobile Ventures Corporation, a business unit focused on the research and development of portable, mobile and out-of-home transmission technology using over-the-air digital television spectrum. For more information, visit www.ionmedia.com.

Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to the safe harbor provisions created by that Act. In addition, forward-looking statements may be made orally in the future by or on behalf of the Company. Forward-looking statements can be identified by the use of terms such as "expects," "should," "may," "believes," "anticipates," "will," and other future tense and forward-looking terminology. There can be no assurance as to the actual results of the undertakings described herein. These forward-looking statements are made only as of the date of this report, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Media Contact:
Lex Suvanto / Adam Miller
Abernathy MacGregor
212-371-5999
lex@abmac.com
alm@abmac.com