INNOVATE Announces Successful Closing of Broadcasting Refinancing and Agrees to Partial Sale of Broadcasting

NEW YORK, June 01, 2026 (GLOBE NEWSWIRE) -- INNOVATE Corp. (NYSE: VATE) ("INNOVATE” or the "Company”) announced today that HC2 Broadcasting Holdings Inc. ("Broadcasting”) closed on a refinancing transaction and that Broadcasting and HC2 Broadcasting Holdco, LLC ("HC2 Holdco”), subsidiaries of INNOVATE, have entered into a definitive agreement pursuant to which INNOVATE will sell a controlling interest in Broadcasting to CONX CORP. ("CONX”), subject to the satisfaction of customary closing condit