November 10, 1997 |
When CNBC programming vice president Bruno Cohen was growing up in the dawning of the Age of Aquarius, he says jokingly, "You made a face at your dad when he read the business pages, and nobody went down to Wall Street except to protest. . . . Today, business news is cool." When the stock market dropped 554 points on Oct.
October 18, 1996 |
Former UPI and Financial News Network executive Earl Brian was convicted Thursday of conspiring to cover up the companies' dire financial straits in the late 1980s and early '90s. A federal jury found Brian guilty on 10 counts but deadlocked on three others. The panel acquitted co-defendant John Berentson of conspiracy and deadlocked on 12 other counts. Brian's lawyer, Richard Marmaro, said his client "obviously is very disappointed" and planned to appeal.
September 6, 1995 |
Federal fraud and conspiracy indictments were handed up Tuesday in Los Angeles accusing two former top officials of United Press International and Financial News Network of concealing the companies' sorry financial condition from investors and lenders in the late 1980s. Among other things, the 24-count, 32-page grand jury indictment accuses former UPI and FNN Chairman Earl W. Brian and his chief operating officer, John F.
June 29, 1993 |
Charges Allege False Record-Keeping: The SEC accused four ex-officers of the defunct Financial News Network Inc. with overstating the company's earnings. One of the four defendants, C. Stephen Bolen of Los Angeles, the cable company's executive vice president and chief financial officer, was also charged with insider trading in company stock while knowing of the inflated earnings reports. Others named are Gary Prince of Oakton, Va.
July 13, 1991 |
Lower Price Sought for FNN: NBC's Consumer News and Business Channel, which won a tough bidding war for the Financial News Network, said it will ask a judge to lower the price by $5 million. CNBC said in papers filed in Manhattan's U.S. District Court that a bankruptcy judge's decision in May to reopen bidding for FNN unfairly caused it to increase its earlier highest offer. CNBC wants to void its winning offer of $154.
June 12, 1991 |
Tom Rogers, president of NBC's cable division, is confidently ticking off the benefits of NBC's $145-million winning bid for Financial News Network when, on the TV set against the wall, a CNBC anchorman reads a news item about the drop in broadcasting stocks. The graphic illustrating the story says "TV Stocks" and shows little arrows pointing down next to the stock symbols for CBS Inc. and Capital Cities/ABC Inc. But the arrow next to General Electric Co.'s stock symbol points up.