InterMedia Makes Counter Offer for Outdoor$9.15 per share in cash would seem to trump Kroenke offer 4/30/2013 04:24:42 PM Eastern
Not to be outdone by the group that outdid its earlier bid
for Outdoor Channel, InterMedia Partners, parent of the Sportsman Channel, has
made a $9.15 per share cash offer for the hunting, fishing and outdoor life
In a letter to Outdoor Channel Tuesday, InterMedia, headed
by cable pioneer Leo J. Hindery Jr., said it believed its proposal is superior
to the one made by Kroenke Sports and Entertainment in March.
That offer, for $8.75 per share in cash, had scrapped an earlier cash and stock
deal InterMedia had for the channel.
Outdoor Channel shareholders were scheduled to
vote on the KSE proposal on May 8. In its letter, InterMedia said its offer
would remain open until 5 p.m. on May 7.