Arsenal’s majority share holder Stan Kroenke is adding the Calif.-based Outdoor Channel Holdings to his sports empire.
The company accepted an offer from Kroenke Sports & Entertainment LLC to acquire all its shares ($8.75 per share).
Outdoor Network already had agreed a deal with New York-based InterMedia Outdoors Holdings LLC before Kroenke spoiled the party. Outdoor Channel terminated its InterMedia agreement and accepted Kroenke’s much improved offer.
Stan Kroenke will take control of Sportsman Channel and also dozen outdoor magazines of Outdoor Channel Holdings. The deal’s expected to be completed in two or three months.
Sports maniac Kroenke also owns the Colorado Avalanche (hockey), Colorado Rapids (soccer), the Pepsi Center and also owns majority of Arsenal.