After a heated discussion, Kroenke Sports and Entertainment LLC has acquired Outdoor Channel Holdings Inc. OCH is a cable network and the price per share was pegged at US$8.75 per share in cash. This new development came after OCH had agreed four months ago that it would be purchased by InterMedia Outdoors Holdings LLC for US$8.00 per share.
Kroenke Sports owns the Denver Nuggets of the NBA and the Colorado Avalanche of the NHL placed OCH's value at US$227 million. The owner Stan Kroenke is also the majority shareholder of English Premiere League club Arsenal Gunners.
Last November 16, OCH agreed to a merger with InterMedia for a cash and stock deal. Because of this development, OCH has paid Intermedia US$6.5 million termination fee. OCH is a cable company that has shows for hunters and other outdoor sports enthusiasts. Intermedia on the other hand has Intermedia Partners VII as its majority stockholder and was established by cable industry veteran Leo Hindery.
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