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Ascent unit closes purchase of Security Networks

ENGLEWOOD, Colo. (AP) -- Holding company Ascent Capital Group Inc. said Friday that a subsidiary completed the acquisition of Security Networks LLC for about $501.5 million.

Ascent Capital said its Monitronics International Inc. home security alarm unit bought Security Networks for $482.9 million in cash and 253,333 newly issued shares of Ascent Capital stock.

Shares of Ascent Capital declined $1.12 to close Friday at $73.52.