Sales negotiations completed between Ascent and Encompass
Encompass has completed the purchase of the Content Distribution side of Ascent Media Group's business.
The completion of sales negotiations between Ascent Media and Encompass Digital Media have resulted in the former company being paid around $113 million (£72 million) for the Content Distribution side of Ascent Media Group (AMG) - its wholly owned subsidiary.
This announcement follows Ascent Media's announcement last month that it had agreed to sell AMG's Media Services and Creative Services strands of the business to Deluxe Entertainment Services.
As a result of the transactions the enterprise has now sold the vast majority of its AMG operating companies.
"Some of the most recognized cable networks and broadcasters worldwide depend upon the technical and operational expertise of AMG's Content Distribution business," said Ascent Media chief executive William Fitzgerald.
He added that Encompass has emerged as an industry leader and the combination represents a good opportunity for the firm to participate in the growth prospects that are present in the sector.
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