As expected, Kroenke Sports and Entertainment completed its
previously announced acquisition of Outdoor Channel Holdings Inc. for $10.25
per share in cash, pursuant to which Outdoor Channel has become a wholly-owned
subsidiary of KSE.
The acquisition adds Outdoor Channel to KSE's sports and
multimedia portfolio, which includes regional sports network Altitude Sports
& Entertainment, the Colorado Avalanche (National Hockey League), Denver
Nuggets (National Basketball Association), Colorado Rapids (Major League
Soccer) and Colorado Mammoth (National Lacrosse League), as well as a 50%
interest in World Fishing Network. This combination will enable Outdoor Channel
to expand in serving the vast and growing consumer base for outdoor enthusiast
programming while providing a platform for distributors, producers and
advertisers.
"Outdoor Channel is already the nation's leading
channel in the outdoor genre. As a part of KSE, Outdoor Channel will be well
positioned - competitively, strategically and financially -- to meet the needs
of its customers and business partners in the future. The acquisition also
presents exciting new opportunities both for Outdoor Channel and for KSE as a
whole," said KSE president and CEO Jim Martin in a statement.
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