Business Services Industry
Broadcast International Inc. to continue discussions with Data Broadcasting Corp
Business Wire, Nov 22, 1994
NEW YORK--(BUSINESS WIRE)--Nov. 22, 1994--Broadcast International Inc. (NASDAQ:BRIN) announced that its board of directors met yesterday to consider the $6.00 per share stock merger proposal previously made by Data Broadcasting Corp. (NASDAQ:DBCC).
The board determined that it is unwilling to enter into any agreement or arrangement regarding a transaction at the proposed price of $6.00 per share in Data Broadcasting stock. However, the board authorized discussions with Data Broadcasting to investigate the possibility of a transaction at a more favorable price.
Representatives of Broadcast International have invited Data Broadcasting to enter into those discussions promptly.
CONTACT: Broadcast International Inc.
Nicholas Ruitenberg, 801/562-2252
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