EPL Club Arsenal Denies Reports Of $2.26B Bid To Buy Out Kroenke
EPL club Arsenal today said that Owner Stan Kroenke has "no plans to sell his majority stake" after reports that "a Middle East consortium was ready to make a bid" of US$2.26B for the club (AP, 3/3). The London TELEGRAPH originally reported that a "cash offer" to buy 100% of the club would be backed by funds from Qatar and the UAE, and would be "the world's biggest ever bid for a football club." A source said that the "intention is to buy out" Kroenke (London TELEGRAPH, 3/3).
Meanwhile, Kroenke Sports & Entertainment has "made an offer to acquire the Outdoor Channel, which would thwart a proposed merger with the Sportsman Channel." The offer is "for $8.75 a share -- a 16% premium over Friday’s closing price." The offer "could upend" Outdoor Channel Holdings’ deal to merge with InterMedia Outdoor Holdings, which owns the Sportsman Channel and several outdoor enthusiast magazines (MEDIAPOST.com, 3/2).