[Satellite TODAY 12-06-10] Ascent Media Corp.’s content distribution business will be sold to services operator Encompass Digital Media for about $113 million under a purchase agreement signed by the companies Dec. 3.
    The sell-off, announced in November when Ascent Media agreed to sell its creative and media services businesses to Deluxe Entertainment Services Group, includes the consummation of both transactions. Encompass Digital Media will assume $7 million in Ascent Media obligations and debt following the sale.
    Ascent Media will continue to own its systems integration business, but the company said it is planning “strategic alternatives” for this business unit. In addition, Ascent Media said in a statement that it is, “committed to pursuing investments in or the acquisition of businesses that provide enhanced shareholder return opportunities.”
The transaction is expected to close in the first quarter of 2011.