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Company Town Annex

October 13, 1993|From Times Staff and Wire Reports

Nostalgia Network Inc. to Study Bids: The company said it will consider competing offers from Concept Communications Inc. and International Family Entertainment Inc. Los Angeles-based Nostalgia, which caters to the over-45 audience, said a special committee of directors will also review any other offers that would add cash to the cable network. Nostalgia's board earlier had ignored the Sept. 16 offer from Concept and publicly denied receiving any offer from International Family. Concept offered to buy 1 million Nostalgia shares for $2 million. International Family offered about $29.7 million in cash and stock for Nostalgia.

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