GAC Media Buys Great American Country Network From Discovery; Terms Not Disclosed - Quick Facts

(RTTNews) - GAC Media, LLC, a newly-formed group of US-based investors, announced Monday that it has acquired the Great American Country Network from Discovery, Inc. (DISCK, DISCA). GAC's format includes lifestyle programming and is available in approximately 40 million television households.

Simultaneously, GAC Media has also acquired RIDE TV, a 24-hour, high-definition television network dedicated to showcasing equestrian sports, culture and lifestyle.

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 will run GAC and RIDE TV moving forward as President & CEO.

Deal terms for GAC and the RIDE TV acquisitions, both of which have closed, were not disclosed.