InterMedia Partners is merging Cine Latino and InterMedia Espanol Holdings with Azteca Acquisition Corp. The deal is valued at approximately $400 million. The new company will be called Hemisphere Media Group Inc. InterMedia Partners and Azteca Acquisition Corporation are hosting a conference call today to discuss the transaction.
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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.
Leo Hindery Jr., a managing partner of private equity fund InterMedia Partners LP, has joined the board of PhoneGuard Inc. PhoneGuard is a subsidiary of Options Media Group Holdings, and a provider of mobile applications software. . Hindery is the former chairman and chief executive of The YES Network, which he founded.
Magic Johnson Enterprises and Ron Burkle’s The Yucaipa Cos. have made an investment in Vibe Holdings, which owns Vibe Magazine and the Soul Train TV show and library. Financial terms were not announced. Earvin “Magic” Johnson will become chairman of Vibe Holdings. InterMedia Partners, a New York PE firm, currently owns Vibe.
InterMedia Partners reportedly has agreed to acquire Vibe, a hip-hop magazine that shut down last month after being unable to restructure its debt. InterMedia will relaunch Vibe as an online-only publication, under its Uptown Media platform. Wicks Group of Cos. was Vibe’s most recent owner, having bought it from Freeman Spogli in 2006. PRESS RELEASE [...]