P.M. BRIEFING : Financial News Considers Merger
Financial News Network today announced it is considering various proposals to merge with other broadcast companies but had not forged any specific deal with Turner Broadcasting System Inc.
FNN’s parent company is Infotechnology Inc., which controls United Press International.
In Atlanta, Turner spokesmen refused to comment on published reports that the giant cable network was set to buy a controlling interest in FNN for $100 million, pending approval by the company’s board of directors this week. But spokesmen for both Turner and FNN acknowledged that the two companies had entered into negotiations several months ago.