Ascent's offer for Meridian floaters expires; no notes are purchased

By Marisa Wong

Madison, Wis., June 13 - Ascent Media Corp. announced that its cash tender offer to purchase any and all of the outstanding floating-rate notes due 2027 issued by Meridian Funding Co., LLC ended at 5 p.m. ET on June 10 and was not extended. As of the expiration date, $100 million of the notes had been tendered, but none will be purchased in the terminated offer since the minimum threshold was not reached.

The tender offer that began on May 13 was subject to certain conditions that were not satisfied as of the expiration date. All notes tendered in the offer will be returned to holders, and no consideration will be paid.

As previously reported, the offer was made in connection with the refinancing of the existing debt of Ascent's indirect wholly owned subsidiary, Monitronics Funding LP. Ascent said it is continuing to evaluate refinancing options.

Citigroup Global Markets Inc. (800 558-3745) was the dealer manager for the offer, and Global Bondholder Services Corp. (866 857-2200 or 212 430-3774) was the depositary and information agent.

Based in Englewood, Colo., Ascent provides creative and network services to the media and entertainment industries in the United States, the United Kingdom and Singapore.

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