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Fri March 15, 2013
Kroenke makes bid for Outdoor Network
Columbia businessman and St. Louis Rams owner Stan Kroenke is looking to add the Outdoor Network to his sports empire.
Outdoor Channel Holdings Incorporated, based in Temecula, Calif., accepted an offer Wednesday from Kroenke Sports & Entertainment LLC. The company would acquire all of the network’s outstanding stock for $8.75 per share.
Kroenke submitted a takeover bid for the hunting, fishing and shooting channel after the Outdoor Network already had agreed to a merger with InterMedia Outdoors Holdings LLC, based in New York. InterMedia controls the Sportsman Channel, and publishes more than a dozen outdoor magazines.
The Outdoor Network says it terminated its InterMedia agreement before accepting Kroenke's offer.
Kroenke also owns the Colorado Avalanche hockey team, Colorado Rapids soccer team, the Pepsi Center and a majority of the Arsenal, an English soccer club.
The Outdoor Network deal is expected to close in the second quarter of this year.