Encompass Digital to buy content distribution unit for $113 mil
One day after John Malone said he was selling Liberty Media’s position in Barry Diller’s IAC, the Malone-controlled Ascent Media Group on Friday said it was selling its content distribution biz to Encompass Digital Media for $113 million.
It would appear Malone is trying to streamline and bring more clarity to his operation. Ascent is part of Malone’s Liberty Interactive business, which is due to be split from Liberty early next year. It is currently a tracking stock.
Ascent’s content distribution business provides services to cable, satellite and pay-per-view networks in the U.S., U.K. and Singapore.
Ascent last month reached a deal to sell its creative services and media services units to Deluxe Entertainment. Ascent’s remaining asset, a systems integration business, is possibly for sale as well, the company said Friday.