Financial Advisor
RIDE TV
M&A Advisory
Has Been Acquired By
GAC Media, LLC
An Affiliate Of
Which Also Acquired
From
Transaction Details
- On June 7, 2021, GAC Media, LLC, a newly-formed group of US-based investors, announced that it has acquired the Great American Country ("GAC") network from Discovery, Inc.
- Contemporaneously with its acquisition of GAC, GAC Media also acquired RIDE TV, a 24-hour, high-definition television network dedicated to showcasing equestrian sports, culture and lifestyle
- GAC Media was organized by Dallas-based Hicks Equity Partners LLC ("HEP") and Bill Abbott and includes US-based family offices
- Together, GAC and RIDE TV constitute the first two channels in GAC Media's larger effort to revitalize and invest in family-friendly programming that is both timeless and entertaining
- Bill Abbott, an industry veteran who has operated and launched several cable channels that became highly profitable ratings leaders, especially in the area of Christmas content, will be President and CEO of GAC Media, LLC
About the company
RIDE TV
RIDE TV is a 24-hour, high definition, cable television network dedicated to showcasing equestrian sports and lifestyle. RIDE TV delivers high-quality programming to those that enjoy and care about anything and everything horse related.
Hicks Equity Partners LLC.
Hicks Equity Partners LLC is the private equity arm of the Thomas O. Hicks family office. With more than 40 years of private equity experience, Mr. Hicks was an early pioneer of the "buy and build" strategy of investing and co-founded Hicks Muse Tate & Furst, which raised more than $12 billion of private equity across six funds and completed over $50 billion of leveraged acquisitions. HEP looks for established companies with proven track records, strong free cash flow characteristics, a strong competitive industry position and an experienced management team looking to partner with long-term capital.
Discovery, Inc.
Discovery, Inc. (Nasdaq: DISCA, DISCB, DISCK) is a global leader in real life entertainment, serving a passionate audience of superfans around the world with content that inspires, informs and entertains. Discovery delivers over 8,000 hours of original programming each year and has category leadership across deeply loved content genres around the world.
Sources: RIDE TV website and management; GAC Media, LLC press release.
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