FNN Files for Bankruptcy: Financial News Network...
From Times Staff and Wire Reports
FNN Files for Bankruptcy: Financial News Network Inc. filed for protection from creditors under Chapter 11 of federal bankruptcy law in New York bankruptcy court. In its petition, which had been expected, FNN listed assets of $75.5 million, liabilities of $145.4 million and secured debt of $49.5 million. On Feb. 26, FNN announced that NBC had signed a definitive agreement to buy it for $105.5 million. FNN said it expects to complete the sale within 60 days.
