TEMECULA, Calif., May 2, 2013 (GLOBE NEWSWIRE) -- Outdoor Channel Holdings, Inc. (Nasdaq:OUTD) (the "Company" or "Outdoor Channel") today announced that it entered into an amendment to its merger agreement dated March 13, 2013 with Kroenke Sports & Entertainment, LLC ("KSE"). Under the terms of the amended merger agreement, the merger consideration has been increased to $9.35 per share (compared to the previously agreed consideration of $8.75 per share), which increased consideration represents a premium of 23.8% to Outdoor Channel's closing stock price on March 1, 2013, which was the last trading day prior to the public disclosure of KSE's proposal to acquire Outdoor Channel.
Outdoor Channel Agrees To Increased Price In Transaction With Kroenke Sports & Entertainment
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