CNBC Appeal of FNN Ruling Dismissed: A...

CNBC Appeal of FNN Ruling Dismissed: A federal appeals court panel dismissed the National Broadcasting Co.’s appeal of an unfavorable ruling in its bid for the business news cable television channel Financial News Network. The decision by the three-judge panel of the U.S. 2nd Circuit Court of Appeals appears to set the stage for an auction in federal bankruptcy court to see whether NBC or a rival bidder will acquire FNN. FNN’s parent, Financial News Network Inc., sought protection from creditors under Chapter 11 of the U.S. Bankruptcy Act on March 1.