HC2 Broadcasting Helping McAllen, Texas Communicate Critical COVID-19 Updates over its Extensive Over-the-Air Network
March 23 2020 - 8:15AM
HC2 Broadcasting Holdings Inc. ("HC2 Broadcasting”), a subsidiary
of HC2 Holdings, Inc. (“HC2” or the “Company”) (NYSE: HCHC), a
diversified holding company, today announced that it is offering
its broadcast over-the-air (“OTA”) assets across the United States
to provide critical information and updates about the coronavirus
and COVID-19 to the communities it reaches.
James E. Darling, Mayor, City of McAllen
commented, “A large part of our community receives their news and
entertainment via over the air television and HC2 Broadcasting is
helping us share our updates and programming. The addition of this
over the air outlet will help us provide timely, accurate health
and safety information to the underserved population in Spanish and
English.”
“After being contacted by the Emergent
Management team of the City of McAllen, Texas, we quickly mobilized
to enable the broadcasting of the City’s programming and critical
community updates over our local station KAZH,” stated Philip
Falcone, HC2’s Chairman, Chief Executive Officer and
President. “We are offering all city, county or state
governments and first responders that service the communities we
reach across the United States to share their programming over our
vast platform.”
KAZH serves a population of over 900,000
people. KAZH also reaches multiple communities in Texas’s Rio
Grande Valley, including Mission, Edinburg, Weslaco and Harlingen.
KAZH’s signal crosses the Mexican border and reaches the Mexican
cities of Reynosa, Rio Bravo and Gustavo Diaz Ordaz.
About HC2 Holdings, Inc.
HC2 Holdings, Inc. is a publicly traded (NYSE:
HCHC) diversified holding company, which seeks opportunities to
acquire and grow businesses that can generate long-term sustainable
free cash flow and attractive returns in order to maximize value
for all stakeholders. HC2 has a diverse array of operating
subsidiaries across multiple reportable segments, including
Construction, Energy, Telecommunications, Life Sciences,
Broadcasting, Insurance and Other. HC2's largest operating
subsidiary is DBM Global Inc., a family of companies providing
fully integrated structural and steel construction services.
Founded in 1994, HC2 is headquartered in New York, New York. Learn
more about HC2 and its portfolio companies at www.hc2.com.
Cautionary Statement Regarding
Forward-Looking Statements
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995: This press release, and
certain oral statements made by our representatives from time to
time may contain, forward-looking statements. Generally,
forward-looking statements include information describing actions,
events, results, strategies and expectations and are generally
identifiable by use of the words “believes,” “expects,” “intends,”
“anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,”
“will,” “could,” “might” or “continues” or similar expressions.
Such statements are based on the beliefs and assumptions of the
Company’s management and the management of the Company’s
subsidiaries and portfolio companies. The Company believes these
judgments are reasonable, but you should understand that these
statements are not guarantees of performance or results, and the
Company’s actual results could differ materially from those
expressed or implied in the forward-looking statements due to a
variety of important factors, both positive and negative, that may
be revised or supplemented in subsequent statements and reports
filed with the U.S. Securities and Exchange Commission (the “SEC”),
including in our reports on Forms 10-K, 10-Q and 8-K. Such
important factors include, without limitation, issues related to
the restatement of our financial statements; the fact that we have
historically identified material weaknesses in our internal control
over financial reporting, and any inability to remediate future
material weaknesses; capital market conditions, including the
ability of the Company and its subsidiaries to raise capital; the
ability of the Company’s subsidiaries and portfolio companies to
generate sufficient net income and cash flows to make upstream cash
distributions; volatility in the trading price of the Common Stock;
the ability of the Company and its subsidiaries and portfolio
companies to identify any suitable future acquisition or
disposition opportunities; our ability to realize efficiencies,
cost savings, income and margin improvements, growth, economies of
scale and other anticipated benefits of strategic transactions;
difficulties related to the integration of financial reporting of
acquired or target businesses; difficulties completing pending and
future acquisitions and dispositions; activities by activist
stockholders, including a proxy contest, consent solicitation or
any unsolicited takeover proposal; effects of litigation,
indemnification claims and other contingent liabilities; changes in
regulations and tax laws; the risks and uncertainties associated
with, and resulting from, the COVID-19 pandemic; and risks that may
affect the performance of the operating subsidiaries and portfolio
companies of the Company. Although the Company believes its
expectations and assumptions regarding its future operating
performance are reasonable, there can be no assurance that the
expectations reflected herein will be achieved. These risks and
other important factors discussed under the caption “Risk Factors”
in our most recent Annual Report on Form 10-K filed with the SEC,
and our other reports filed with the SEC could cause actual results
to differ materially from those indicated by the forward-looking
statements made in this press release.
You should not place undue reliance on
forward-looking statements. All forward-looking statements
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by the foregoing cautionary
statements. All such statements speak only as of the date hereof,
and unless legally required, the Company undertakes no obligation
to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Contact
Investor RelationsGarrett EdsonICRPhone: (212)
235-2691E-mail: ir@hc2.com
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