Attached files
file | filename |
---|---|
8-K - FORM 8-K - Ascent Capital Group, Inc. | v58184e8vk.htm |
Exhibit 99.1
ASCENT MEDIA CORPORATION TO HOST CONFERENCE CALL TO
DISCUSS ACQUISITION OF MONITRONICS INTERNATIONAL
Englewood, CO December 20, 2010 Ascent Media Corporation (Ascent or the Company) (Nasdaq:
ASCMA) announced today that it will host a conference call at 1:00 pm ET on Monday December 20,
2010 to discuss the Companys recent acquisition of Monitronics International (Monitronics).
Ascent may discuss its and Monitronics historical financial performance and make observations
regarding its outlook.
Participating on the call will be Ascents Chief Executive Officer, Bill Fitzgerald; Monitronics
Chief Executive Officer Mike Haislip and Monitronics Chief Financial Officer, Mike Meyers.
To access the call please dial (888) 753-4238 from the United States, or (706) 643-3355 from
outside the U.S. The conference call I.D. number is 33278208. Participants should dial in 5 to 10
minutes before the scheduled time and must be on a touch-tone telephone to ask questions.
A replay of the call can be accessed through January 3, 2011 by dialing (800) 642-1687 from the
U.S., or (706) 645-9291 from outside the U.S. The conference call I.D. number is 33278208.
The call will also be available as a live webcast which can be accessed at Ascents Investor
Relations Website at http://www.ascentmediacorporation.com/Investor-Relations.aspx. A slide
presentation with additional information about Monitronics and applicable non-GAAP measure
reconciliations will also be available on Ascents website during the call.
About Ascent Media Corporation
Ascent Media Corporation is a holding company and owns 100 percent of its operating subsidiaries,
which include Monitronics and Ascent Media Group, LLC (AMG). AMG is currently engaged primarily
in the business of providing content and creative services to the media and entertainment
industries in the United States, the United Kingdom and Singapore.
AMG Transactions
On November 24, 2010, Ascent announced the execution of a definitive agreement to sell the Creative
Services and Media Services businesses of AMG to Deluxe Entertainment
Services Group Inc. for
aggregate net cash consideration to Ascent of approximately $68 million, subject to adjustment.
The sale of the Creative Services and Media Services businesses to Deluxe is expected to close on
or about December 31, 2010. On December 3, 2010, Ascent announced execution of a definitive
agreement to sell the Content
Distribution business of AMG to Encompass Digital Media, Inc. for aggregate net cash consideration
to Ascent of approximately $113 million, subject to adjustment. The sale of the Content
Distribution business to Encompass is subject to shareholder and regulatory approval, and is
expected to close on or about February 28, 2011.
About Monitronics International
Founded in 1994, Monitronics International is one of the nations largest, fastest-growing home
security alarm monitoring companies. Headquartered in Dallas, the company provides monitored
business and home security system services to more than 665,000 residential and commercial
customers through its network of nationwide, independent authorized dealers.
Forward Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements about the potential sale of the
Content Distribution, Creative Services and Media Services divisions and other matters that are not
historical facts. These forward looking statements involve many risks and uncertainties that could
cause actual results to differ materially from those expressed or implied by such statements,
including, without limitation: Ascents ability to satisfy the conditions to the sale of any of the
Content Distribution, Creative Services and Media Services divisions. These forward looking
statements speak only as of the date of this press release, and Ascent expressly disclaims any
obligation or undertaking to disseminate any updates or revisions to any forward looking statement
contained herein to reflect any change in Ascents expectations with regard thereto or any change
in events, conditions or circumstances on which any such statement is based. Please refer to the
publicly filed documents of Ascent, including the most recent Forms 10-Q and 10-K and any
subsequently filed Form 8-K, for additional information about Ascent and about the risks and
uncertainties related to Ascents business which may affect the statements made in this press
release.
###
Erica Bartsch
Sloane & Company
212-446-1875
ebartsch@sloanepr.com
212-446-1875
ebartsch@sloanepr.com