Data Broadcasting Completes Sale of CheckRite Subsidiary.JACKSON, Wyo.--(BUSINESS WIRE)--May 1, 1998--Data Broadcasting Corp. (Nasdaq:DBCC DBCC Daytona Beach Community College (Florida) DBCC District Business Conduct Committee (NASD) DBCC Desert Breeze Community Church (Glendale, AZ, USA) ) Friday announced that is has closed the sale of substantially all the assets of its CheckRite International subsidiary to a subsidiary of National Data Corp. (NYSE NYSE See: New York Stock Exchange :NDC NDC National Drug Code NDC NATO Defense College NDC National Documentation Centre (National Hellenic Research Foundation, Athens, Greece) NDC National Dairy Council NDC National Democratic Congress ) for a cash purchase price of $15.5 million. The sale, originally announced in mid-February, was finalized following expiration of the waiting period under the Hart-Scott-Rodino Act Hart-Scott-Rodino Act Often used in risk arbitrage. Antitrust act administered by U.S. Department of Justice and the FTC that requires an investor to file a form with the government before he acquires an economic interest in the lesser amount of $15 million or 15% of the and other customary closing conditions. Data Broadcasting is America's leading provider of real-time market data to the individual trader and investor. The company delivers real-time stock quotes, financial and sports news and gaming information to 250,000 users via PCs, wireless FM, cable satellite and the Internet (http://www.dbc.com and http://cbs.marketwatch.com). With its Capital Management Sciences division, Data Broadcasting also is the leading provider of fixed income portfolio analytics used for valuation and risk management purposes. CONTACT: Data Broadcasting Corp. Mark F. Imperiale, 650/571-1800 or Pondel Parsons Parsons, city (1990 pop. 11,924), Labette co., SE Kans.; inc. 1871. It is a shipping point for dairy products, grain, and livestock. Manufactures include ammunition, wire and paper products, plastics, and appliances. & Wilkinson Cecilia A. Wilkinson/A. William Krenn, 310/207-9300 investor@pondel.com (e-mail) |
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