Attached files
file | filename |
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8-K - CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES - Ascent Capital Group, Inc. | a13-18993_18k.htm |
Exhibit 99.1
MONITRONICS INTERNATIONAL COMPLETES ACQUISITION OF
SECURITY NETWORKS
Englewood, CO August 16, 2013 Ascent Capital Group Inc. (Ascent or the Company) (NASDAQ: ASCMA) announced today that its primary operating subsidiary, Monitronics International, Inc. (Monitronics), has completed the previously announced acquisition of Security Networks, LLC for total cash consideration of $482.9 million (after giving effect to certain closing adjustments) plus 253,333 newly issued shares of Ascent Series A common stock.
The cash portion of the Security Networks purchase price was funded by cash on hand at Ascent and new debt consisting of $103.5 million of Convertible Notes issued by Ascent, $175.0 million of New Senior Notes issued by Monitronics and an Incremental Term Loan of $225.0 million issued under Monitronics existing Credit Facility.
About Ascent Capital Group, Inc.
Ascent is a holding company and owns 100 percent of its operating subsidiary, Monitronics, one of the nations largest, fastest-growing home security alarm monitoring companies, headquartered in Dallas, TX, and certain former subsidiaries of Ascent Media Group, LLC.
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Contact:
Erica Bartsch
Sloane & Company
212-446-1875
ebartsch@sloanepr.com