Colorado-based Altitude Sports & Entertainment – a sports network that's the television home of the Colorado Avalanche and Denver Nuggets – recently concluded a 50% purchase of interest in the World Fishing Network (WFN). As part of the transaction, WFN will consolidate its U.S. operations in Denver, Colorado - including technical operations at Altitude's network operations center in Centennial, Colo. WFN's Canadian operations will remain headquartered in Toronto, Ont.
Altitude is a subsidiary of Kroenke Sports Enterprises, while WFN is a subsidiary of Insight Sports. The split interest effectively creates a partnership between the two in terms of WFN.
Terms of the deal were not disclosed.
Altitude president and CEO Matt Hutchings stated in the announcement: "We're thrilled to join with Insight Sports as partners in the World Fishing Network. WFN is a first-class operation, and its team, led by Mark Rubinstein, has done a fantastic job in the launch and roll-out of this high-quality network. We look forward to working alongside them to build the WFN business and expand its brand. We're also excited that, in order to further enhance the viewing experience, WFN's U.S.-based technical operations will be headquartered at Altitude's state-of-the-art network operations center."
WFN president and CEO Mark Rubenstein commented: "By partnering with Altitude Sports, WFN will have access to enhanced programming, marketing, sales, technical and other benefits that will enable us to provide the leading cross-platform media experience for the large and underserved community of passionate anglers. More people fish than play golf and tennis combined, and only WFN offers viewers a high-quality, diverse, 24/7 television channel dedicated to this passion. Our partnership with Altitude will further power our TV-network distribution roll-out and the ongoing positive growth of our online and mobile communities."
Also quoted in the announcement was Kroenke president and CEO Jim Martin, who stated: "This is an incredible opportunity for WFN to reach the tens of millions of avid anglers in the United States who have never had access to a network devoted solely to one of America's favorite pastimes – fishing. We believe cable and satellite companies will be enticed by this opportunity to provide their subscribers and sponsors with unprecedented coverage in the multibillion-dollar fishing industry."
WFN's current distribution was cited as over 20 million households.
