Ascent Capital Group, Inc. Announces Board Changes
November 07, 2016 at 04:41 pm EST
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On November 3, 2016, Rana Kashyap provided the board of directors of Ascent Capital Group, Inc. with notice of his resignation from the Board, effective November 3, 2016. On November 4, 2016, the Board appointed Jeffery R. Gardner, President and Chief Executive Officer of Monitronics International, Inc., a wholly owned subsidiary of Ascent Capital Group, Inc., to the Board, effective November 4, 2016. Mr. Gardner will serve as a Class II director with a term expiring at the annual meeting of stockholders in 2019. As a result of Mr. Kashyap's resignation and Mr. Gardner's appointment, the Board has a total of six directors, divided equally among three classes.
Ascent Capital Group, Inc. is a holding company. The Company's subsidiaries include Monitronics International, Inc. (MONI) and LiveWatch Security, LLC (LiveWatch). The Company's segments include MONI, LiveWatch and Other Activities. The MONI segment is primarily engaged in the business of providing security alarm monitoring services: monitoring signals arising from burglaries, fires, medical alerts and other events through security systems at subscribers' premises, as well as providing customer service and technical support. LiveWatch is a do-it-yourself home security provider offering professionally monitored security services through a direct-to-consumer sales channel. LiveWatch offers a differentiated go-to-market strategy through direct response television, Internet and radio advertising. When a customer initiates the process to obtain monitoring services, LiveWatch pre-configures the alarm monitoring system based on customer specifications.
ASCENT CAPITAL GROUP, INC. 