EXHIBIT 99.1
OUTDOOR
CHANNEL
HOLDINGS, INC.
NEWS RELEASE
Contacts: Perry T. Massie, President and Chief Executive Officer
William A. Owen, Chief Financial Officer
951.699.4749
Cecilia A. Wilkinson/Angie Yang
PondelWilkinson Inc.
Investor Relations
Corporate/Financial Communications
310.279.5980
investor@pondel.com
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OUTDOOR CHANNEL EXPANDS OFFICES TO ACCOMMODATE GROWTH
NEW BUILDING TO HOUSE STATE-OF-THE-ART DIGITAL BROADCAST FACILITIES
TEMECULA, CALIFORNIA - FEBRUARY 22, 2004 - Outdoor Channel Holdings
(NASDAQ NMS: OUTD) today announced that it intends to purchase for $2.6 million
a building in Temecula, California to house a new broadcast facility for its
principal subsidiary, The Outdoor Channel. The 28,000-square-foot warehouse,
across from the company's current headquarters, will be renovated over the next
six months to accommodate an all-digital format for the national television
network that is dedicated to programming for fishing, hunting and outdoor
enthusiasts. The company expects to close on the purchase, subject to customary
closing conditions, in the third quarter of 2005.
"This expansion exemplifies the success and growth we have achieved and
underscores our bright outlook for the future," said Perry T. Massie, president
and chief executive officer of Outdoor Channel Holdings. "Especially with the
planned launch of the high-definition format TOC 2 HD this summer, we look
forward to operating from studios with technology to match the quality of the
programming we are producing for our viewers."
Approximately 50 employees of The Outdoor Channel will move into the
new facility upon completion of the renovations, which is expected in September
2005. The building, located at 43455 Business Park Drive, will house editing,
production, engineering and support staff offices, and will produce and transmit
both high-definition and standard-definition programming for the channel's East
and West Coast feeds.
Outdoor Channel Holdings' current facility in Temecula, at 43445
Business Park Drive, will continue to house the company's corporate staff, as
well as sales, marketing, human resources and offices for other divisions -
currently about 80 employees. The space vacated by the channel will accommodate
planned future growth.
(more)
Outdoor Channel Holdings, Inc.
Page 2
Construction on the new facilities is slated to begin in late March or
early April. Studio 440 Architecture and Acoustics in Hollywood, California has
been named as the architectural design firm for the project. Technical
Innovation LLC of Atlanta, Georgia, will integrate broadcast and production
technologies for the new studios.
Outdoor Channel Holdings is purchasing the building from Temecula
Enterprises. The two companies entered into the purchase agreement in December
2004, and Outdoor Channel Holdings became obligated to the purchase on February
18, 2005.
ABOUT OUTDOOR CHANNEL HOLDINGS, INC.
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Outdoor Channel Holdings, Inc. owns and operates The Outdoor Channel, a
national television network, dedicated to providing the best in traditional
outdoor programming to America's 82 million anglers, hunters and outdoor
enthusiasts. The Outdoor Channel features approximately 100 weekly hunting,
fishing, shooting sports, rodeo, motor sports, gold prospecting and related
lifestyle programs. As of February 2005, according to Nielsen Media Research,
The Outdoor Channel's universe was approximately 24.5 million homes through a
combination of cable and satellite dish subscribers. The company also owns and
operates related businesses that serve the interests of viewers of The Outdoor
Channel and other outdoor enthusiasts, including LDMA-AU, Inc. (Lost Dutchman's)
and Gold Prospector's Association of America, Inc. (GPAA).
ABOUT STUDIO 440
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Studio 440 Architecture & Acoustics is an architectural design firm
focusing on custom solutions for clients with world-class media production and
post-production requirements. Founded in 1994 by George Newburn and Ross
Brennan, Studio 440's core competencies include: superior, innovative design;
highly individualized client services; and thorough coordination of the design
implementation and construction process. Studio 440 has become a model for best
practices in the motion picture, television, and audio recording design field.
ABOUT TECHNICAL INNOVATION LLC
- ------------------------------
Technical Innovation has a heritage customer base of corporate and
broadcast clients that includes Turner Broadcasting System, Inc., Clear Channel
Communications, Univision, and others. With offices in Atlanta, Birmingham,
Nashville, Raleigh-Durham, Charlotte and Virginia Beach, Technical Innovation
will continue to provide broadcast and strategic visual communications solutions
to broadcast and Fortune 500 customers across the United States. For more
information, contact Kevin Powers at 770.441.5152.
Outdoor Channel Holdings, Inc.
Page 3
SAFE HARBOR STATEMENT
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Information in this news release that is not historical fact may
include "forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended (the Securities Act), and Section 21E of the
Securities Exchange Act of 1934, as amended (the Exchange Act), including
statements, without limitation, regarding the company's expectations, beliefs,
intentions or strategies about the future, its ability to timely complete
building renovations and the timing of the planned launch of new formats and
channels. The company's actual results could differ materially from those
discussed in any forward-looking statements. The company intends that such
forward-looking statements be subject to the safe-harbor provisions contained in
those sections. In assessing forward-looking statements, readers are urged to
read carefully all cautionary statements contained in the company's filings with
the Securities and Exchange Commission. For these forward-looking statements,
the company claims the protection of the safe harbor for forward-looking
statements in Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934.
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