Ascent Media to buy security-monitoring company Monitronics $1.2 billion
22 Dec 2010
Ascent Media Corp, a provider of content to the media and entertainment industries, said on Friday that it is buying security-monitoring company Monitronics International Inc for $1.2 billion, including debt.
Dallas, Texas-based Monitronics is one of the largest home security alarm monitoring companies in the US. The company provides monitored business and home security system services to more than 665,000 residential and commercial customers through its network of nationwide, independent authorised dealers.
Founded in 1994, the company reported revenues of $272 million for the year ended 30 June 2010, a 16 per cent increase over the previous year.
Based in Englewood, Colorado, Ascent Media, partly owned by billionaire media mogul John Malone, provides creative services and content for television and film industries in the US, the UK and Singapore.
It provides various technical and creative services that are required to complete principal photography into final products, such as feature films, movie trailers and TV spots, documentaries, independent films, scripted and reality television, TV movies and mini-series, television commercials, music videos, interactive games and new digital media, and corporate communications.
It markets its creative services under Beast, Company 3, Encore Hollywood, Level 3 Post, Method, RIOT Atlanta, and Rushes brand names.
For the fiscal year 2009, the company posted loss of $52.9 million on revenues of $453.7 million.
