This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

InterMedia Partners VII, L.P. And InterMedia Outdoors Holdings, LLC Deliver Proposal To Outdoor Channel Holdings, Inc.

NEW YORK, April 30, 2013 /PRNewswire/ -- On April 30, 2013, InterMedia Partners VII, L.P. and InterMedia Outdoors Holdings, LLC (together, "InterMedia") delivered a written proposal to Outdoor Channel Holdings, Inc. ("Outdoor Channel") (Nasdaq: OUTD), proposing to acquire, on the terms and conditions set forth in the proposal, all of the outstanding shares of common stock of Outdoor Channel, at a price of $9.15 per share in cash (representing a superior proposal to Outdoor Channel's pending transaction with Kroenke Sports & Entertainment, LLC).

InterMedia is publicly disclosing this letter to ensure that Outdoor Channel stockholders have an opportunity to benefit from its superior proposal.  A copy of the letter from InterMedia to Outdoor Channel is included below:

April 30, 2013

Board of DirectorsOutdoor Channel Holdings, Inc.43455 Business Park Drive, Suite 103 Temecula, CA 92590

Dear Members of the Board of Directors:

We are pleased to submit this definitive proposal to acquire Outdoor Channel Holdings, Inc. ("OUTD") in a transaction that will provide your stockholders with substantially greater value than they would receive under your currently pending merger agreement with Kroenke Sports & Entertainment, LLC ("KSE").

We propose to acquire 100% of the issued and outstanding shares of OUTD common stock in an all-cash transaction at a price of $9.15 per share, on the terms and subject to the conditions set forth in this letter and the attached agreements. Our proposed transaction closely tracks your pending transaction with KSE in all material respects. Our proposal is definitive and fully financed as indicated in the attached commitment letter from two large institutional lenders.  As you know, we have already obtained antitrust approval in connection with our previous merger agreement, and we have confirmed that such approval remains effective.  Finally, our proposal is subject to limited confirmatory due diligence.  For the avoidance of doubt, any non-public information provided to us will be subject to our confidentiality agreement dated as of August 13, 2012.

Our proposal is clearly superior to the transaction with KSE as our per share cash price represents a premium over the cash price that your stockholders would receive under the merger agreement with KSE.  We are confident that you, after consultation with your outside legal counsel and financial advisors, will conclude that our proposal constitutes a superior proposal.  We are prepared to sign the merger agreement and support agreement in the forms attached to this letter, upon termination of the current agreements with KSE and confirmation that you have approved the transactions contemplated by our definitive proposal.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs