GAC Media Snaps Discovery's Great American Country Network for Undisclosed Sum

A newly-formed group of US-based investors, GAC Media, acquired Discovery Inc’s (NASDAQ:DISCA) the Great American Country (GAC) network.
The financial terms of the transaction were not disclosed.
GAC’s format includes lifestyle programming and is available in 40 million television households. GAC Media also acquired high-definition television network RIDE TV.
Industry veteran Bill Abbott will run GAC and RIDE TV as the CEO.
Price action: DISCA shares traded lower by 0.25% at $31.47 on the last check Monday.

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