Monitronics Reports 3rd Quarter Earnings Results
Adjusted EBITDA totaled $62.5 million and $204.5 million in the three and nine months, respectively, compared to $71.3 million and $213.5 million in the prior year periods.
Adjusted EBITDA totaled $62.5 million and $204.5 million in the three and nine months, respectively, compared to $71.3 million and $213.5 million in the prior year periods.
Newly merged with Ascent Capital Group, the company’s biggest shareholders are now EQT Partners and Brigade Capital Management.
The wholesale monitoring and smart home services provider says it will reorganize with significantly less debt and access to new sources of capital.
Moloney brings more than two decades of experience to his new role, including serving as CMO for Experian, Wells Fargo Advisors, TaxSlayer and Scottrade.
The company originally intended to appeal the delisting, but determined it wouldn’t be worth the cost in time and resources.
As Monitronics aims to eliminate suffocating debt, plentiful access to capital has led alarm companies to be less reliant on dealer-program financing.
The restructuring agreement calls for Monitronics to be merged with its holding company Ascent Capital Group upon stockholder approval.
Multidistrict lawsuits sought to hold both companies vicariously liable for calls made by other companies that were attempting to sell home monitoring systems made by UTC and Honeywell.
Despite a nine-year absence from the home security market, Jeff Gardner explains why the Brinks brand will fuel faster growth at the company.
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