DENVER, May 17, 2013 /PRNewswire/ -- Kroenke Sports
& Entertainment, LLC ("KSE") today announced that it has
completed the previously-announced acquisition of Outdoor Channel
Holdings, Inc. (NASDAQ: OUTD) ("Outdoor Channel") 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's impressive array of
outdoor programming to KSE's leading sports and multimedia
portfolio (which includes Altitude Sports & Entertainment
(regional sports network), 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 an unparalleled platform for
distributors, producers and advertisers.
Jim Martin, President and CEO of
KSE, commented: "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."
"We are proud to be a new part of the KSE family," said
Tom Hornish, President and CEO of
Outdoor Channel. "This is an exceptional transaction that will
permit Outdoor Channel to continue its commitment to achieving the
highest quality content, the broadest reach and partnering with the
top brands. Being under the KSE umbrella will also greatly
strengthen our ability to invest in assets, expand our distribution
and continue to generate the unparalleled experience our viewers
expect. Stan Kroenke is an avid
sportsman and conservationist, as well as one of the country's most
respected sports owners and media leaders. We look forward to
working with him and his management team to reach our shared vision
for growth and reach for the network. "
About KSE
Denver-based Kroenke Sports
& Entertainment is one of the world's leading ownership,
entertainment and management groups. As owners and operators of
Pepsi Center, the Paramount Theatre, Dick's Sporting Goods Park,
the Colorado Avalanche (NHL), Denver Nuggets (NBA), Colorado
Mammoth (NLL) and Colorado Rapids (MLS), KSE's sports and
entertainment assets are second to none. Additional
properties under KSE's umbrella include Altitude Sports &
Entertainment, a 24-hour regional television network; Altitude
Authentics, the company's official retail provider; and
TicketHorse, the official ticketing provider for KSE teams and
venues. KSE is also a 50 percent partner in the World Fishing
Network, which has headquarters in Colorado and Toronto.
About Outdoor Channel Holdings, Inc.
Outdoor Channel Holdings, Inc. owns and operates Outdoor Channel
and Winnercomm Inc. Nielsen estimated that Outdoor Channel had
approximately 39.8 million cable, satellite and telco subscribers
for May 2013. Outdoor Channel offers
programming that captures the excitement of hunting, fishing,
shooting, adventure and the Western lifestyle and can be viewed on
multiple platforms including high definition, video-on-demand, as
well as on a dynamic broadband website. Winnercomm is one of
America's leading and highest quality producers of live sporting
events and sports series for cable and broadcast television. The
Company also owns and operates the SkyCam and CableCam aerial
camera systems which provide dramatic overhead camera angles for
major sports events, including college and NFL football. For more
information please visit http://www.outdoorchannel.com.
SOURCE Kroenke Sports & Entertainment, LLC