November 23rd, 2012

Outdoor Channel and The Sportsman Channel Merged Into InterMedia Outdoors Holding Company

Intermedia Outdoor ChannelOutdoor Channel Holdings (NASDAQ:OUTD) announced a three-way merger consolidating the Outdoor Channel with The Sportsman Channel (owned by by Intermedia Holdings, LLC), and with InterMedia Outdoors Inc., which produces 20 websites and 15 outdoor magazines, including Guns & Ammo and Petersen’s Hunting.

This merger will create InterMedia Outdoor Holdings Inc. (“IMOH Inc.”), which now becomes the nation’s largest media and content company serving outdoor enthusiasts. The merger consolidates control over television, print, and online media in the hunting, shooting, and fishing categories. That’s probably good for IMOH’s investors, but not so good for outdoor industry advertisers. Now that Intermedia has co-opted its main competitor in the cable TV arena, we expect IMOH to demand higher ad fees.

Tom Hornish, President and CEO of Outdoor Channel Holdings (the “Company”), commented: “Combining the resources of these three companies will allow us to better serve the consumers, distributors and advertisers in this robust marketplace. We will have the highest quality content, the top brands and the greatest reach.” Jeff Paro, CEO of InterMedia Outdoors, Inc. stated, “This is the culmination of a long and dedicated effort by our team to build a truly multimedia enterprise. IMOH Inc. will serve all of its consumers in all media across all platforms.”

Gavin Harvey, CEO of The Sportsman Channel, said, “We built Sportsman from a small cable network five years ago into one of the pre-eminent brands in the outdoor space. I am excited by what we have achieved and even more excited about the prospects for the combined company. The marriage of two cable networks with the reach and brands of InterMedia Outdoors is a truly unique proposition in the cable media landscape.”

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