Outdoor Channel Holdings said its board decided the bid from Kroenke...
Outdoor Channel Holdings said its board decided the bid from Kroenke Sports & Entertainment is a “superior proposal” to an earlier, competing takeover bid from InterMedia. The programmer got the unsolicited bid for all its outstanding shares for $8.75 a…
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share this week (CD March 5 p16). The definitive terms and conditions of a merger agreement detailing the KSE proposal have been fully negotiated, Outdoor Channel said in a news release Thursday (http://bit.ly/16bqx0r). The company intends to terminate its agreement with InterMedia, and InterMedia may propose changes to its terms within four business days, it said. “At this time the InterMedia Agreement remains in effect, and the Outdoor Channel board has not changed its recommendation with respect to the InterMedia transaction.” Leo Hindery’s InterMedia in November agreed to a deal to combine the Outdoor Channel with the first company’s Sportsman Channel (http://bit.ly/Zue8Q1).