Trump Allies Acquire Cable Networks in Family-Friendly TV Push
- Discovery sells Great American Country to Hicks-backed group
- New company, GAC Media, also is buying equestrian channel
Thomas Hicks Jr.
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An investor group led by Hicks Equity Partners, a firm with links to the Republican National Committee and the Trumps, is snapping up cable channels in a bid to create a family-friendly TV empire.
The buyers, calling themselves GAC Media, announced the acquisition of Great American Country from Discovery Inc. on Monday. The network, which is available in about 40 million homes, sold for about $90 million, according to a person familiar with the situation. GAC Media also acquired Ride TV, a 24-hour channel dedicated to equestrian sports.