Business Services Industry
Infomercial Maker National Media Corp. Said to Face More Federal Scrutiny. (Originated from Philadelphia Inquirer)
Knight Ridder/Tribune Business News, August, 1994 by Rozansky, Michael L.
Aug. 7--It's been a lousy year for National Media Corp., the Philadelphia infomercial company that sells the Flying Lure and the Medicus golf club.
In January it became the target of a hostile takeover attempt by ValueVision International Inc., the country's third-biggest TV home-shopping company.
In April, after it finally agreed to a merger, ValueVision called off the deal.
In the months since, its stock plummeted from $11 a share to under $4. Its president and executive vice president left, separately, for other jobs. It lost a lawsuit to a former director and was ordered to pay him $2.2 million (they settled for $500,000 and 500,000 shares of stock).
Last month, it reported losing $8.7 million in its latest fiscal year - and its auditors...
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