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8-K - CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES - Ascent Capital Group, Inc. | a13-22947_18k.htm |
Exhibit 99.1
ASCENT CAPITAL GROUP PURCHASES 351,734 SHARES OF SERIES B COMMON STOCK FROM DR. JOHN MALONE
Englewood, CO - October 25, 2013 - Ascent Capital Group, Inc. (Ascent or the Company) (Nasdaq: ASCMA) (OTCQB: ASCMB) announced today that it has purchased 351,734 shares of Ascents 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 Companys outstanding voting power.
Dr. Malone commented, Ive been very pleased with Ascents strong operational and financial performance and I remain confident in managements ability to continue delivering strong returns for its shareholders. I remain an enthusiastic and supportive shareholder.
Bill Fitzgerald, Ascents 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 nations largest, fastest-growing home security alarm monitoring companies, headquartered in Dallas, TX, and certain former subsidiaries of Ascent Media Group, LLC.
Contact:
Erica Bartsch
Sloane & Company
212-446-1875
ebartsch@sloanepr.com