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Innovate closes sale of 75% stake in HC2 Broadcasting to CONX

PUBT·09/02/2026 12:31:18
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Innovate closes sale of 75% stake in HC2 Broadcasting to CONX
  • CONX closed its acquisition of a controlling stake in HC2 Broadcasting, Innovate’s broadcasting holding company.
  • CONX now owns 75% of HC2; Innovate retains 25%, subject to post-closing adjustments and certain expense and indemnification obligations.
  • CONX committed up to USD 75 million of equity funding for HC2; part funded at closing, remainder payable post-close.
  • A previously announced USD 105 million loan agreement tied to the refinancing was extinguished at closing, including accrued interest.
  • Innovate holds an 18-month option to buy up to an additional 15% of HC2 from CONX on a fully diluted basis.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Innovate Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202609020830PRIMZONEFULLFEED9820263) on September 02, 2026, and is solely responsible for the information contained therein.