Intermedia Outdoors to Merge with Outdoor Channel Holdings

Outdoor Channel Holdings said Friday it is merging with InterMedia Outdoors Holdings, which controls The Sportman Channel. Press reports pegged the deal value at $208 million in cash and stock. InterMedia Partners, the PE firm, owns InterMedia Outdoors. The Sportsman Channel is a cable TV network for outdoor enthusiasts. InterMedia will have a majority stake in IMOH and own, along with minority members of IMOH, 67.6%. Outdoor Channel stockholders are expected to own approximately 32.4% of IMOH. CIT Communications, Media & Entertainment is providing $150 million in financing. Lazard provided financial advice to Outdoor Channel Holdings.

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