Hunting, sports nets combine in $208 mil cash and stock deal
Outdoor Channel has inked a $208 million cash and stock merger with the Sportsman Channel, bringing the two hunting and sport-enthusiast nets under one roof.
Sportsman is controlled by private-equity firm InterMedia Partners, which also owns 15 outdoor magazines, including Guns and Ammo.
InterMedia, which will controll the expanded company, agreed to pay either $8 in cash or exchange one InterMedia share for each share of Outdoor Channel, which is publicly traded.
Outdoor Channel shareholders will own about 32% of the merged company, which will be called InterMedia Outdoor Holdings.