Ascent Capital Group — BrandWiki

Ascent Capital Group

Overview

Ascent Capital Group, Inc.

type	Public
foundation	1999
defunct	2019
fate	Merged with Monitronics
location city	Denver, Colorado
location country	United States
area served	United States
key people	William R. Fitzgerald (chairman) William E. Niles (CEO)
industry	Residential Security Monitoring
revenue	US$311.9M (FY 2011)
operating income	US$-28.2M (FY 2011)
net income	US$20.6M (FY 2011)
assets	US$1,626M (FY 2011)
equity	US$560M (FY 2011)
homepage	http://www.ascentcapitalgroupinc.com

Ascent Capital Group, Inc. was a publicly traded holding company[1] whose primary subsidiary was Monitronics. Ascent Media was a wholly owned subsidiary of the Discovery Holding Company (DHC). DHC spun off Ascent Media as an independent, public company on September 17, 2008.[2]

The company's main activity through its wholly owned subsidiary, Monitronics, was to provide security alarm monitoring services to more than 1 million residential and commercial customers in the United States, Canada and Puerto Rico through its nationwide network of independent dealers.

On May 24, 2019, Ascent Capital Group announced its intent to merge with Monitronics.[3]

History

1999: Ascent Media formed through the acquisition of three post-production companies: Todd-AO Corporation, Four Media Company, and certain assets of Soundelux Entertainment Group using Liberty Media stock valued at more than $400 million US dollars.
2005: Ascent Media announces deal with Sony Pictures Entertainment to convert Sony's library of more than 4,000 films and many of its vintage TV shows into digital files. "As envisioned by Sony and Ascent Media, files that are now delivered manually to distributors such as the Starz Encore pay-TV service would be transferred instead as digital files over a secure network."[6]
2006: Discovery Holding Company acquires AccentHealth to be overseen by Ascent Media. Discovery Holding's press release reported, "Delivered to over 11,200 medical waiting rooms nationwide, AccentHealth's programming and sponsor messages are delivered to over 19 million health conscious consumers each month."[7]
2007: During the fourth quarter of 2007, the Board of Directors of DHC approved a resolution to spin off the capital stock of AMC to the holders of DHC Series A and Series B common stock. Each owner of Series A common stock is allowed 1 vote per share of voting power and Series B common stock owners are allowed 10 votes per share.[8]
2008: On September 4, 2008, Ascent Media completed the sale of 100% of the ownership interests in AccentHealth to an unaffiliated third party for net cash proceeds of $118,643,000.
2008: The AMC Spin Off was completed on September 17, 2008. Following the AMC Spin Off, AMC and DHC operate independently, and neither has any stock ownership, beneficial or otherwise, in the other.[5]
2008: Ascent Media Group's Creative Sound Services group spun off from Discovery Holding Company to create CSS Studios, LLC, a wholly owned subsidiary of Discovery Communications. This included the assets of Todd-AO, Soundelux, Sound One, POP Sound, Modern Music, Soundelux Design Music Group and The Hollywood Edge.[9]
2010: In December 2010, Ascent Media acquired Monitronics, a home security system company.[10]
2011: On February 28, 2011, Encompass Digital Media, Inc. purchased Ascent Media's global content distribution business, including facilities in: New York metro area, Minnesota, Burbank, London and Singapore.[11] On July 7, 2011, Ascent Media Corporation merged with its subsidiary, Ascent Capital Group, Inc., for the purpose of changing its name to Ascent Capital Group, Inc.[12]
2012: On October 26, 2012, Monitronics acquired approximately 93,000 security alarm monitoring subscriber accounts representing $4.4 million of gross recurring monthly revenue from Pinnacle Security for a purchase price of $131 million.[13]

Ascent Capital Group

History

External links

References