RIDE TV
GAC Media, a new group of U.S.-based investors, said it has acquired RIDE TV, a Fort Worth-based 24-hour high definition television network dedicated to equestrian sports, culture, and lifestyle.
At the same time, GAC announced it acquired the Great American Country Network from Discovery, Inc. GAC's format includes lifestyle programming and is available in about 40 million television households.
“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,” GAC Media said in a release.
Bill Abbott, an industry veteran who has operated and launched several cable channels that became ratings leaders, especially in the area of Christmas content, will run GAC and RIDE TV as president and CEO.
“Among other key initiatives, Mr. Abbott will oversee a prompt review of additional content opportunities while leading growth initiatives in advertising and distribution,” GAC Media said.
"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,” Abbott said in the release.
“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."
GAC Media was organized by Dallas-based Hicks Equity Partners LLC and Abbott, and includes U.S.-based family offices. Deal terms were not disclosed.
Hicks Equity Partners is the private equity arm of the Thomas O. Hicks family office. Hicks Equity looks for established companies with proven track records, strong free cash flow, strong competitive industry position, and experienced management team looking to partner with long-term capital.