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DATA BROADCASTING CORPORATION FILES ANNUAL REPORT ON FORM 10-K

 DATA BROADCASTING CORPORATION FILES ANNUAL REPORT ON FORM 10-K
 NEW YORK, Sept. 29 /PRNewswire/ -- Data Broadcasting Corporation (DBC) (NASDAQ: DBCC) today announced that it had filed its first annual report on Form 10-K with the Securities and Exchange Commission for the fiscal year ended June 30, 1992.
 DBC is the successor registrant to Financial News Network Inc. (FNN), which successfully completed its bankruptcy reorganization under Chapter 11 of the Federal Bankruptcy Code on June 26, 1992. As a new corporation reporting under "fresh start" accounting principles, DBC has included its audited balance sheet as of June 30, 1992, in this year's 10-K. DBC's first full-year, audited income statement will be filed next year with its 1993 10-K.
 During fiscal 1992, numerous initiatives were undertaken by new management which it believes will launch DBC on a profitable course for the future. These include completing the acquisition and consolidation of Shark Holdings and unifying DBC and Shark operations under one management team and board of directors. In addition, numerous business strategies have been implemented resulting in significant cost savings to the organization.
 Unaudited pro forma financial results for fiscal 1992 and 1991, for DBC consolidated with Shark, are included in the Form 10-K. Quarterly financial statements will be released starting in November 1992, which will report on results for the first quarter ending Wednesday, Sept. 30.
 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- 9/29/92
 /CONTACT: Amber Gordon of Data Broadcasting Corporation, 703-359-6236/
 (DBCC) CO: Data Broadcasting Corporation ST: New York IN: SU:


IH -- DC017 -- 4546 09/29/92 16:51 EDT
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Publication:PR Newswire
Date:Sep 29, 1992
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