ASCENT CAPITAL GROUP, INC. (NASDAQ:ASCMA) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01. Completion of Acquisition or Disposition of Assets.
ASCENT CAPITAL GROUP, INC. (NASDAQ:ASCMA) Files An 8-K Completion of Acquisition or Disposition of Assets
As previously disclosed, on June 30, 2019 (the “Petition Date”), Monitronics International, Inc. (“Monitronics”), a wholly owned subsidiary of Ascent Capital Group, Inc. (“Ascent”), along with certain of Monitronics’ domestic subsidiaries (collectively, the “Debtors”), filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”). The Debtors will continue to operate their businesses as “debtors-in-possession” under the jurisdiction of the Bankruptcy Code and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court.
Ascent has determined that, as a result of the bankruptcy filing and beginning on the Petition Date, Monitronics and its subsidiaries will be deconsolidated from Ascent’s financial statements. In connection with the deconsolidation of Monitronics, Ascent is filing herewith certain pro forma financial information, which is attached hereto as Exhibit 99.1 and incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(b) Pro Forma Financial Information.
Unaudited Pro Forma Consolidated Financial Information is attached hereto as Exhibit 99.1, and is incorporated by reference herein.
(d) Exhibits.
Ascent Capital Group, Inc. Exhibit
EX-99.1 2 acgdeconsolmoniex99.htm EXHIBIT 99.1 Exhibit Exhibit 99.1ASCENT CAPITAL GROUP,…
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EX-99.1 2 acgdeconsolmoniex99.htm EXHIBIT 99.1 Exhibit Exhibit 99.1ASCENT CAPITAL GROUP,…
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About ASCENT CAPITAL GROUP, INC. (NASDAQ:ASCMA)
Ascent Capital Group, Inc. is a holding company. The Company’s segments include Monitronics, LiveWatch and Other Activities. The Company’s subsidiaries include Monitronics International, Inc. (Monitronics) and LiveWatch Security, LLC (LiveWatch). Monitronics provides a range of residential security services, including hands-free two-way interactive voice communication with the monitoring center, cellular options, and an interactive service option, which allows the customer to control their security system remotely using a computer or smart phone. Monitronics performs monitoring services for subscribers located in all 50 states, the District of Columbia, Puerto Rico and Canada. LiveWatch is a do-it-yourself (DIY) home security provider offering professionally monitored security services through a direct-to-consumer sales channel. LiveWatch offers a differentiated go-to-market strategy through direct response television, Internet and radio advertising.