Outdoor Channel Gets $19M Reward For Switching Suitors

Law360, New York (March 14, 2013, 9:17 PM EDT) -- Outdoor Channel Holdings Inc., cable TV's hunting and fishing mecca, this week dumped an early suitor in favor of a self-financed offer from sports mogul Stan Kroenke, and was rewarded with an extra $19 million for its shareholders and a heavily discounted breakup fee.

Kroenke Sports & Entertainment LLC, which owns basketball's Denver Nuggets, hockey's Colorado Avalanche and football's St. Louis Rams, among other professional sports teams, beat out InterMedia by 75 cents per share, bidding $226.9 million for Outdoor Channel.

Outdoor Channel's agreement with InterMedia...
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