Monitronics International Completes Acquisition of Security Networks
Monitronics International Completes Acquisition of Security Networks
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Ascent Capital Group Inc. ("Ascent or the "Company") (NAS: 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 nation's largest, fastest-growing home security alarm monitoring companies, headquartered in Dallas, TX, and certain former subsidiaries of Ascent Media Group, LLC.
Sloane & Company
Erica Bartsch, 212-446-1875
ebartsch@sloanepr.com
KEYWORDS: United States North America Colorado Texas
INDUSTRY KEYWORDS:
The article Monitronics International Completes Acquisition of Security Networks originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
