P.M. BRIEFING : FNN to Buy Stock Data Service
<i> From Times wire services</i>
NEW YORK —
Financial News Network said today it has agreed to acquire Lotus Information Network Corp., a stock market information service for private investors, from Lotus Development Corp.
Terms of the agreement were not disclosed.
FNN, a cable television network, said it intends to combine LINC with its Data Broadcasting Corp. subsidiary, which uses a similar technology to feed market quotes and financial news into personal computer systems.
Infotechnology Inc., an information and communications company that owns United Press International, owns 45% of FNN.
“The acquisition of LINC positions FNN as the dominant player in the distribution of real-time market data to the private investor,” said John F. Berentson, FNN executive vice president.
