Ascent Media Says Its Looking to Acquire Monitronics Int’l
DALLAS — Ascent Media Corp., a provider of creative and network services to the media and entertainment industries, announced today the Federal Trade Commission (FTC) and the Department of Justice have granted early termination of the waiting period for a potential deal involving Monitronics Int’l Inc.
Dallas-based Monitronics Int’l provides monitored business and home security system services to more than 700,000 residential customers and commercial clients through its network of nationwide, independent authorized dealers.
Ascent confirmed it is in talks with private equity firm Abry Partners LLC, Monitronics’ controlling shareholder, about a “transaction” but gave no further details in a press statement. The company said completion of the transaction was subject to further negotiations and there was no assurance that any deal will be consummated.
Under the Hart-Scott-Rodino Antitrust Act of 1976, companies must wait 30 days before closing acquisitions, and the government can request more time to review the proposed deal. The FTC and Department of Justice granted an early termination of this waiting period, according to the company.
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