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UPDATE 1-Ascent Media buys security systems maker for $1.2 bln
December 17, 2010 / 11:33 PM / 7 years ago

UPDATE 1-Ascent Media buys security systems maker for $1.2 bln

* Cash portion of deal $413 mln

* Co uses $105 mln from credit facility

Dec 17 (Reuters) - Media content provider Ascent Media Corp (ASCMA.O) said it acquired security systems provider Monitronics International Inc in a transaction valued at about $1.2 billion, including debt.

The cash portion of the deal was $413 million, which Ascent Media funded with cash on hand and from $105 million in borrowings under a new credit facility.

The deal excluded hedge-related and other liabilities and included the assumption of Monitronic’s existing structured financing, the company said in a statement.

Ascent Media, partly owned by billionaire media mogul John Malone, sold its creative media services business and its content distribution business recently.

Dallas, Texas-based Monitronics provides security system services to residential and commercial customers. The company delivered revenue of $272 million in its fiscal year ended June 30, 2010. (Reporting by Siddharth Cavale in Bangalore; Editing by Don Sebastian)

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