- A newly-formed group of US-based investors, GAC Media, acquired Discovery Inc’s 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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