Outdoor Channel board wants to go with Kroenke's higher offer

03/7/2013 | Reuters

The board of Outdoor Channel Holdings has opted to go with an offer from Kroenke Sports & Entertainment, which bid $8.75 per share in cash, over its deal where InterMedia would acquire the company for $8 a share. InterMedia must respond within four business days. Outdoor Channel, should it finalize its sale to Kroenke, would owe InterMedia a $6.5 million termination fee.

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