[Sat Broadcasting(tm)] Encompass Digital Media, Inc., a U.S. based digital media services provider, now has a definitive agreement to acquire the global content distribution business of Ascent Media Corporation (NASDAQ: ASCMA), their Ascent Media Group subsidiary.

The consideration for this acquisition is approximately $120 million, including approximately $113 million in cash and the assumption of certain indebtedness and obligations totaling approximately $7 million. The acquisition will create a leading global provider of mission-critical outsourced media services to broadcasters, cable channels, media companies, major corporations and institutions. The transaction will greatly expand Encompass’ scale and geographic footprint by combining Encompass’ core operations in Los Angeles and Atlanta with Ascent’s broadcast facilities in the U.S. (including the New York metro area, Minnesota and Burbank), Singapore and London. In addition to providing international and U.S. clients with best-in-class network origination and transmission services, the transaction enables Encompass to provide unparalleled disaster recovery, occasional-use transmission and backhaul for news, sports and government services. Encompass will also expand its Los Angeles digital media manipulation, archive and distribution services to support existing and emerging applications and platforms worldwide.