INNOVATE Announces Successful Closing of Broadcasting Refinancing and Agrees to Partial Sale of Broadcasting
INNOVATE Corp. announced the successful closing of a $105 million refinancing transaction for its broadcasting subsidiary HC2 Broadcasting Holdings Inc. Concurrently, INNOVATE entered into a definitive agreement to sell a 75% controlling interest in Broadcasting to CONX CORP, retaining 25% ownership. The transaction, subject to customary regulatory…