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Discovery has sold the Great American Country network, aimed at country music fans, to GAC Media, a newly formed investors group led by Dallas-based Hicks Equity Partners.
Terms of the deal were not disclosed, but it follows Discovery and AT&T’s WarnerMedia unveiling a mega-deal to create a media joint venture, Warner Bros. Discovery, led by Discovery CEO David Zaslav.
On Monday, GAC Media also said it had acquired Ride TV, a TV network devoted to equestrian sports and lifestyle. Great American Country, which offers music and lifestyle programming and reaches around 40 million TV households, and Ride TV will be the first two channels in GAC Media’s drive to invest in family-friendly programming.
Former Crown Media exec Bill Abbott will run GAC and Ride TV as president and CEO. The former Crown Media Family Networks CEO stepped down in January 2020 after Hallmark removed a commercial featuring a same-sex couple.
“Even as the entertainment ecosystem continues to rapidly evolve — both in terms of distribution platforms and underlying content — consumer interest in family-friendly programming that enriches lives and offers safe entertainment options remains as strong as ever. GAC and RIDE TV represent cornerstone assets in this respect, and we look forward to growing both channels even as we pursue the larger goal of establishing new, well-resourced and engaging family-friendly programming,” Abbot said in a statement.
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