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BOARD OF DIRECTORS OF THE NOSTALGIA NETWORK, INC. RECOMMENDS THAT SHAREHOLDERS DECLINE TENDER OFFER

 LOS ANGELES, Dec. 9 /PRNewswire/ -- On Nov. 24, 1993, International Family Entertainment, Inc. (NYSE: FAM), a Delaware corporation ("IFE"), through its wholly owned subsidiary, Nostalgia Acquisition Corp. (the "Purchaser"), offered to purchase all issued and outstanding shares of The Nostalgia Network, Inc. (the "Company") (NASDAQ Small Cap: NNET), through a public tender offer (the "Offer"). The Offer was to purchase any and all outstanding shares of common stock of the Company for $2.00 per share and any and all outstanding shares of preferred stock of the Company for $200 per share. Subsequent to the Offer, the Special Committee of the Board of Directors and the financial advisor to the Company, Allen & Company Incorporated ("Allen & Company"), held meetings with IFE and other parties interested in investing in or purchasing shares of the Company.
 Based on all available information presented to the Board of Directors of the Company by the Special Committee and Allen & Company, and after careful consideration thereof, the Board of Directors has unanimously voted that the Offer as presently made by IFE of $2.00 per share of common stock and $200 per share of preferred stock of the Company is not in the best interests of the stockholders of the Company and recommends that the stockholders not accept the Offer and not tender their shares in the Offer.
 In reaching its conclusions, the Board considered a wide variety of factors, including the oral advice of Allen & Company. Allen & Company and the Special Committee believe that it is unlikely that the Company has received the best Offer available at this time and, further, that the Offer is significantly conditional and a decision to tender would be premature. Further, on December 6, 1993, IFE announced that it had commenced discussion with the Special Committee regarding the terms and conditions upon which IFE would be willing to acquire the Company for $3.00 in cash per share of Common Stock and $300 in cash per share of Preferred Stock. These factors and other important information are described in the Schedule 14D-9 being filed with the Securities and Exchange Commission on this date.
 In addition to the Company's Schedule 14D-9 relating to the Offer, Shareholders are advised to review the Tender Offer Statement on Form 14D-1 relating to the IFE Offer to Purchase dated Nov. 24, 1993, together with related materials. These documents set forth the terms and conditions of the Offer.
 The Nostalgia Network is the only 24 hour basic cable television service that targets the rapidly growing and increasingly affluent market of active adult Americans over 45 by offering entertainment, lifestyle and informational programming and currently serves more than 14 million subscribers via satellite to approximately 740 cable television systems throughout the United States.
 -0- 12/9/93
 /CONTACT: James K. Merril of The Nostalgia Network, Inc., 619-431-5544; or Desmond Towey or George Robinson or Desmond Towey & Associates, 212-888-7600, both for The Nostalgia Network, Inc./
 (FAM NNET) CO: International Family Entertainment, Inc.; Nostalgia Acquisition
 Corp.; The Nostalgia Network, Inc. ST: California IN: ENT SU: TNM


TW -- NY059 -- 2279 12/09/93 14:49 EST
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Publication:PR Newswire
Date:Dec 9, 1993
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