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Ascent Media Corporation Announces Financial Results for Quarter Ended June 30, 2009.

Publication: Mergers & Acquisitions Week
Publication Date: 02-SEP-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Ascent Media Corporation Announces Financial Results for Quarter Ended June 30, 2009.(Financial report)

Article Excerpt
Ascent Media Corporation ("Ascent Media" or the "Company") (Nasdaq:ASCMA) reported second quarter results for the three months ended June 30, 2009. Ascent Media is a holding company that owns Ascent Media Group ("AMG"), a leading provider of fully integrated, end-to-end services for the digital media supply chain on a worldwide basis. The Company also holds significant cash reserves and maintains a strong balance sheet with virtually no debt.

"AMG had disappointing financial results during the second quarter amid a slowdown in the creation and production of both commercial and entertainment content, as well as a significant decline in capital spending by networks and media distribution companies," said William Fitzgerald, Chief Executive Officer of Ascent Media Corporation. "In response, we have focused on aggressively controlling operating expenses and have reduced capital spending to minimize the effect on cash flow as we take steps to improve our top line growth."

"We remain confident in AMG's long-term growth...

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