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Ascent Media Corporation Announces Extension Of Early Tender Deadline And Withdrawal Deadline

Ascent Media Corporation (“ Ascent”) (NASDAQ: ASCMA) announced today that it has extended the Early Tender Deadline and the Withdrawal Deadline with respect to its previously announced offer to purchase for cash (the ” Tender Offer”) any and all of the outstanding Floating Rate Notes due 2027 (CUSIP No. 58962FBC3) (the “ Meridian Notes”) issued by Meridian Funding Company, LLC, a Delaware limited liability company.

The Early Tender Deadline and the Withdrawal Deadline, each scheduled for 5:00 p.m., New York City time, on May 26, 2011, have been extended to 5:00 p.m., New York City time, on June 10, 2011, unless further extended by Ascent or the Tender Offer is earlier terminated or withdrawn by Ascent.

The Expiration Date of the Tender Offer remains unchanged at 5:00 p.m., New York City time, on June 10, 2011, unless extended by Ascent or the Tender Offer is earlier terminated or withdrawn by Ascent.

Subject to the terms and conditions of the Tender Offer, holders who validly tender and do not validly withdraw their Meridian Notes prior to the Early Tender Deadline, as extended, will be eligible to receive $850.00 for each $1,000 principal amount of Meridian Notes (the “ Total Consideration”). The Total Consideration includes an Early Tender Premium of $30.00 per $1,000 principal amount of Meridian Notes. Subject to the terms and conditions of the Tender Offer, holders who validly tender their Meridian Notes after the Early Tender Deadline, as extended, but prior to the expiration of the Tender Offer, will be eligible to receive only $820.00 for each $1,000 principal amount of Meridian Notes, which excludes the Early Tender Premium. Tendering holders will also receive accrued and unpaid interest to, but not including, the settlement date.

As of 5:00 p.m., New York City time, on May 26, 2011, $100,000,000 aggregate principal amount of Meridian Notes had been tendered and not withdrawn pursuant to the Tender Offer.

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