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Ascent Capital Group Purchases 351,734 Shares Of Series B Common Stock From Dr. John Malone

Ascent Capital Group, Inc. ("Ascent" or the "Company") (Nasdaq:ASCMA) (OTCQB:ASCMB) announced today that it has purchased 351,734 shares of Ascent’s Series B common stock from Dr. John Malone for aggregate cash consideration of approximately $32.7 million. Following the transaction, Dr. Malone will continue to beneficially own 351,734 Ascent Series B shares and 198,540 Ascent Series A shares, which together represent approximately 21.6% of the Company’s outstanding voting power.

Dr. Malone commented, “I’ve been very pleased with Ascent’s strong operational and financial performance and I remain confident in management’s ability to continue delivering strong returns for its shareholders. I remain an enthusiastic and supportive shareholder.”

Bill Fitzgerald, Ascent’s Chairman and Chief Executive Officer, said, “I am very grateful to John for the interest and support he has provided us. I look forward to his continued good counsel and insights as we continue to execute against our objectives.”

About Ascent Capital Group, Inc.

Ascent is a holding company and owns 100 percent of its operating subsidiary, Monitronics International Inc., 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.



Stock quotes in this article: ASCMA 
Copyright Business Wire 2010

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