Surprise bidder might get FNN

February 27, 1991|By New York Times News Service

CNBC, General Electric Co.'s cable news service, said yesterday that it had agreed to acquire the troubled Financial News Network for $105 million in cash.

The surprise bid, which CNBC made privately Friday and was approved by the two companies late Monday, is reported to be $15 million higher than a joint offer made two weeks ago by Dow Jones & Co. and Westinghouse Broadcasting.

Dow Jones and Westinghouse, which now could raise their offer, angrily told the FNN board that they were "disturbed that FNN had broken off our good negotiations."

Baltimore Sun Articles
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.