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Columbia resident Kroenke to purchase Outdoor Network

Thursday, March 14, 2013 | 7:00 p.m. CDT; updated 7:23 a.m. CDT, Friday, March 15, 2013
Columbia resident Stan Kroenke, who owns the Denver Nuggets and Colorado Avalanche, will purchase the Outdoor Network as well.

DENVER — Denver Nuggets owner Stan Kroenke is adding the Outdoor Network to his sports empire.

Temecula, Calif.-based Outdoor Channel Holdings Inc. accepted an offer Wednesday from Kroenke Sports & Entertainment LLC to acquire all its outstanding stock for $8.75 per share.

Kroenke submitted a takeover bid for the hunting, fishing and shooting channel after the Outdoor Network already had agreed to a merger agreement with New York-based InterMedia Outdoors Holdings LLC. It controls the Sportsman Channel and publishes more than a dozen outdoor magazines.

Outdoor Channel says it terminated its InterMedia agreement before accepting Kroenke's offer.

Denver-based Kroenke also owns the Colorado Avalanche hockey team, Colorado Rapids soccer team, the Pepsi Center and a majority of Arsenal, the English soccer club.

The deal's expected to close in the second quarter.

 


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