InterMedia Partners continued
the bidding war for Outdoor Channel Friday, raising the ante once again for
the outdoor life network, goosing the stock and giving investors hope that the
back-and-forth of the past few days will continue to drive up shares.
InterMedia's $9.75 per share bid trumps the $9.35 per share
offer by rival Kroenke Sports & Entertainment, which in turn was a response
to InterMedia's $9.15 per share all-cash offer, made on April 30.
Already investors are gearing up for a continued bidding war
- the stock was up 6% to $10.03 per share in afternoon trading Friday. In an
interview, InterMedia managing partner Peter Kern said he still believes his
company, the parent of rival outdoor network The Sportsman Channel, is the best
fit with Outdoor.