Encompass Digital Media, a US-based digital media services provider, today announced it will purchase the global content distribution business of Ascent Media Corp. for approximately $113 million in cash and assumption of about $7 million in debt.
The acquisition will create a leading global provider of critical outsourced media services to cable channels, broadcasters, media companies and others. The transaction will also greatly expand Encompass’ scale and geographic footprint by combining its core operations in Los Angeles and Atlanta with Ascent’s broadcast facilities in New York, Minnesota, Burbank, Singapore and London.
The company will benefit from a high quality and diversified client base consisting of major media companies, cable and sports networks, as well as government entities such as the Department of Defense. Some of the company’s corporate clients include: A&E Networks, Disney, ESPN, NHL Network, BBC Worldwide, MTV, NFL Network, Discovery Networks, CNN and CNBC.
Acquiring Ascent’s content distribution business will significantly enhance Encompass’ ability to meet the needs of broadcasters and media companies looking to benefit from the latest technology and rationalize costs with a credible global partner. The president and chief operating officer of Encompass, Bill Tillson, said, “Encompass will be unique in our ability to provide such a broad range and scope of mission-critical services with the highest level of performance and technical expertise on which our clients rely.”
For further information on the companies, visit www.encompass-m.com and www.ascentmedia.com