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.

Copyright Business Wire 2010

If you liked this article you might like

Insider Trading Alert - ASCMA, PBF And UHS Traded By Insiders

Insider Trading Alert - ASCMA, FSLR And HIL Traded By Insiders

Insider Trading Alert - ASCMA, ZLTQ And APC Traded By Insiders

Insider Trading Alert - QADA, DXCM And ASCMA Traded By Insiders

Insider Trading Alert - MCHX, ASCMA And PHX Traded By Insiders