|
|
Article: Infotech and FNN increase position in The Learning Channel; TLC to seek new strategic partner. (Infotechnology Inc., Financial News Network Inc.)
- Article from:
- PR Newswire
- Article date:
- August 17, 1990
CopyrightCOPYRIGHT 1990 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
INFOTECH AND FNN INCREASE POSITION IN THE LEARNING CHANNEL;
TLC TO SEEK NEW STRATEGIC PARTNER
NEW YORK, Aug. 17 /PRNewswire/ -- Infotechnology, Inc. (NASDAQ-NMS: ITCH) and Financial News Network, Inc. (FNN) (NASDAQ-NMS: FNNI) today announced that they have agreed to increase their position in cable television's The Learning Channel, Inc. (TLC).
Upon closing, they will jointly hold 51 percent of TLC's fully diluted equity, and will have the right to designate five of the 10 members of TLC's board of directors.
Infotech and FNN, pursuant to a prior put/call arrangement, will pay $434,000 and issue 377,400 shares of ...