NEW YORK, Sept. 13, 2017 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc.  (NYSE:HCHC), a diversified holding company, announced today that a subsidiary of HC2 Holdings has agreed to enter into an agreement with Mako Communications, LLC and certain of its affiliates to purchase all the assets in connection with Mako’s ownership and operation of low power television stations. The transaction would result in HC2 acquiring 38 operating stations in 22 cities and is subject to the approval of the Federal Communication Commission, as well as other customary closing conditions.

Further details regarding the asset purchase agreement will be provided in a filing with the Securities and Exchange Commission on Form 8-K.

About HC2

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 seven reportable segments, including Construction, Marine Services, Energy, Telecommunications, Life Sciences, Insurance and Other. HC2's largest operating subsidiaries include DBM Global Inc., a family of companies providing fully integrated structural and steel construction services, and Global Marine Systems Limited, a leading provider of engineering and underwater services on submarine cables. Founded in 1994, HC2 is headquartered in New York, New York. Learn more about HC2 and its portfolio companies at www.hc2.com.

About Mako

Mako Communications, LLC is a family owned and operated business headquartered in Corpus Christi, Texas, that has been acquiring, building, and maintaining Class A and low power television stations all across the United States since 2000. Mako currently operates stations in 11 of the top 20 U.S. television markets and in 16 of the top 50 markets.