InterMedia Outdoors — which owns The Sportsman Channel and 15 magazines including Guns & Ammo and Petersen’s Hunting — secured $150 million in financing to purchase Outdoor Channel, Deadline.com reports.
The deal merges two leading media companies serving gun enthusiasts, hunters and others who enjoy outdoor sports.
The agreement is expected to be finalized in early 2013. Tom Hornish, current CEO of Outdoor Channel, will continue in that role after the merger.
In a statement, Hornish said that by combining, “[we] will … better serve the consumers, distributors and advertisers in this robust marketplace.”
Outdoor Channel reaches 38.1 million pay TV households, and The Sportsman Channel reaches 30.1 million.