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Outdoor Agrees to KSE Acquisition - Broadcasting & Cable

Outdoor Agrees to KSE Acquisition

Deal expected to close in second quarter
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Outdoor Channel said Wednesday that it has entered into
definitive merger agreement with Kroenke Sports & Entertainment for $8.75
per share in cash, a deal that values the network at about $278 million.

"Our board of directors has unanimously determined that
the proposed all-cash merger with KSE offers superior value for our
stockholders," said Outdoor Channel CEO Tom Hornish in a statement.
"We are pleased that Kroenke Sports & Entertainment has agreed to
purchase Outdoor Channel."

The KSE offer trumped an earlier $208
million agreement the company had reached with InterMedia Partners
, parent
of the rival Sportsman Channel back in November. KSE made its unsolicited
bid for the channel on Feb. 27
, and on March 8
Outdoor said the all-cash deal was superior
to InterMedia's offer of $8 per
share in cash and stock in the newly formed company.

Click
here to read the full story at Multichannel News.

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