Outdoor Channel Holdings Announces Intent To Voluntarily Delist From NASDAQ Global Select Market
TEMECULA, Calif., Feb. 22, 2013 /PRNewswire/ -- Outdoor Channel Holdings, Inc. (NASDAQ: OUTD) (the "Company") today announced that it has submitted written notice to the NASDAQ Global Select Market ("NASDAQ") of its intention to voluntarily delist its common stock, par value $0.001 per share from NASDAQ.
As previously announced, on November 15, 2012, the Company entered into a merger agreement with InterMedia Outdoors Holdings, LLC ("IMOTSC"), InterMedia Outdoor Holdings, Inc. ("IMOH"), and certain indirect wholly-owned subsidiaries of IMOTSC, pursuant to which the Company and IMOTSC will become wholly-owned subsidiaries of IMOH and, as a result, a trading market for Company common stock will cease. If the stockholders of the Company approve the merger agreement at the Special Meeting of Stockholders to be held on March 13, 2013, the Company expects the transaction to be completed on or about March 14, 2013, following which point the common stock of IMOH is expected to be listed for trading on NASDAQ.
The Company intends to file a Form 25 with the Securities and Exchange Commission (the "SEC") to delist its common stock effective shortly following the closing of the transaction. The Company further intends to file a Form 15 with the SEC following the closing of the transaction in order to notify the SEC of the automatic suspension of its public reporting obligations under Sections 13(a) and 15(d) of the Exchange Act of 1934, as amended.
About Outdoor Channel Holdings, Inc.The Company owns and operates Outdoor Channel and Winnercomm Inc. and 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.
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