Liberty "has successfully completed its cash tender offer to acquire all outstanding shares of Ascent Entertainment Group," the Englewood-based company said in a news release Monday.

By the time the offer expired, Liberty said, about 85 percent of the outstanding shares of Ascent common stock were tendered at the offer price of $15.25 per share.

Liberty plans to acquire the remaining Ascent shares through a merger, that will make Ascent an indirect wholly owned subsidiary. The merger is expected to be completed during the second quarter, Liberty said.

Liberty announced last month that it would buy Ascent in a $460 million deal. In addition to buying the shares, it said it would assume nearly $300 million in debt.

Denver-based Ascent owns the Denver Nuggets, the Colorado Avalanche and their arena, the Pepsi Center, but Liberty has said it plans to sell the sports assets.

Stan Kroenke, a Wal-Mart heir who owns 40 percent of the St. Louis Rams, is the only prospective buyer known to have visited the teams and arena.

Liberty owns video programming, communications, technology and Internet businesses in the United States, Europe, South America and Asia.

Liberty last summer offered $16.45 a share for Ascent, but the agreement was conditioned on the prior sale of the Nuggets, Avalanche and Pepsi Center. The deal collapsed after a $461 million offer from Donald Sturm for the teams and arena dissolved amid bickering with the city over a requirement that the teams remain in Denver for at least 25 years.