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DATA BROADCASTING CORP. ANNOUNCES FINALIZATION OF CNBC APPEAL; DISTRIBUTION OF ADDITIONAL MONIES COMPLETED

 NEW YORK, Dec. 18 /PRNewswire/ -- Data Broadcasting Corporation (NASDAQ: DBCC) today announced that the time for Consumer News and Business Channel (CNBC) to file an appeal from the decision of an appeals court ruling issued last month expired as of Dec. 16, 1992.
 On Nov. 25, 1992, the U.S. Second Circuit Court of Appeals issued a unanimous ruling affirming the decision of the U.S. District Court dismissing CNBC's claim that its purchase price for the media business of Financial News Network (FNN) be reduced by $5 million. The reorganization of FNN, under Chapter 11 of the Federal Bankruptcy Code, resulted in the creation of the new Data Broadcasting Corporation.
 Pending the outcome of this litigation, $5 million had been held in escrow for distribution to former creditors and other claimants of FNN, as well as DBC itself. With the finalization of the appeals court ruling in favor of DBC, the company is now in the process of distributing the funds as specified in the FNN Plan of Reorganization. This will reduce DBC's balance sheet debt by $4.9 million, including reducing its Series A Senior Notes by approximately $4.2 million.
 Data Broadcasting Corporation is a leading provider of stock market quote services and other specialized market data vital to more than 20,000 clients worldwide. Data Broadcasting's main product lines include QuoTrek, Signal and MarketWatch (used primarily by individual investors) and Shark (used by securities industry professionals).
 -0- 12/18/92
 /CONTACT: Amber Gordon for Data Broadcasting Corporation, 703-359-6236/
 (DBCC)


CO: Data Broadcasting Corporation; Consumer News and Business
 Channel ST: New York IN: FIN SU:


DC -- DC005 -- 8100 12/18/92 09:59 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 18, 1992
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