Despite being pushed aside by a larger, last minute bid by
Denver sports magnate Stan Kroenke in its quest for the Outdoor Channel,
InterMedia Partners said it will continue to grow its ratings and reach in its
efforts to boost the overall outdoor lifestyle category.
Outdoor Channel earlier Wednesday said it has agreed
to a definitive merger agreement with Kroenke Sports & Entertainment in
an all-cash deal worth about $227 million. That agreement trumped an
earlier $208 million cash and stock deal with InterMedia Partners.
KSE made its unsolicited
offer on Feb. 27 and on March 8 determined
that it was superior to the InterMedia deal. Outdoor gave InterMedia,
parent of the rival Sportsman Channel, four business days (until March 12) to
put forth a superior proposal to the KSE deal.
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