COMPANY TOWN ANNEX
From Times Staff and Wire Reports
Infomercial Firm in Merger Pact: National Media Corp., a leading producer of the program-length commercials, agreed to be acquired by ValueVision International Inc. for $150 million. National Media, based in Philadelphia, accepted a sweetened offer of $11.50 a share after battling a hostile $10.50-a-share tender offer by ValueVision, a Minneapolis-based home shopping network. ValueVision said it will also end a proxy battle to elect its slate of directors at National Media’s annual meeting March 21.
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