You will be redirected back to your article in seconds

Nostalgia board urges holders to spurn offer

The Nostalgia Network, the money-losing cable channel being sought by a handful of suitors, encouraged shareholders to spurn a tender offer made by Pat Robertson’s International Family Entertainment Inc. last week.

IFE bid roughly $ 40 million in cash to acquire all of Nostalgia’s outstanding stock, after rival bidder, Concept Communications, disclosed it was buying Nostalgia shares on the open market.

IFE bid $ 2 a share in cash for common stock and $ 200 a share for preferred stock in an offer that will expire Dec. 22.

Nostalgia said in a press release it will review the bid with its investment adviser, Allen & Co., in the “required time.” The company also “urged shareholders not to tender their shares until they could consider the board’s recommendation.”

Nostalgia’s board has been split between loyalists to chairman Michael Marcovsky and representatives of Concept.

More TV

  • Netflix

    Nielsen Says It Will Measure Audiences for TV Episodes That Stream Via Netflix

    The Nostalgia Network, the money-losing cable channel being sought by a handful of suitors, encouraged shareholders to spurn a tender offer made by Pat Robertson’s International Family Entertainment Inc. last week. IFE bid roughly $ 40 million in cash to acquire all of Nostalgia’s outstanding stock, after rival bidder, Concept Communications, disclosed it was buying […]

  • Visitors walk in front of a

    Facebook Sales, Amazon Shakeup, Weinsteins, and CBS' Aussie Invasion Drive Mipcom Conversation

    The Nostalgia Network, the money-losing cable channel being sought by a handful of suitors, encouraged shareholders to spurn a tender offer made by Pat Robertson’s International Family Entertainment Inc. last week. IFE bid roughly $ 40 million in cash to acquire all of Nostalgia’s outstanding stock, after rival bidder, Concept Communications, disclosed it was buying […]

  • The ruins of Machu Pichu are

    Mipcom in Brief: Tencent is Blue, FilmRise is Singing and AMC is Sinning

    The Nostalgia Network, the money-losing cable channel being sought by a handful of suitors, encouraged shareholders to spurn a tender offer made by Pat Robertson’s International Family Entertainment Inc. last week. IFE bid roughly $ 40 million in cash to acquire all of Nostalgia’s outstanding stock, after rival bidder, Concept Communications, disclosed it was buying […]

  • Mipcom: RTVE's Clan Eyes U.S. Hispanic

    Mipcom: RTVE's Clan Eyes U.S. Hispanic Market

    The Nostalgia Network, the money-losing cable channel being sought by a handful of suitors, encouraged shareholders to spurn a tender offer made by Pat Robertson’s International Family Entertainment Inc. last week. IFE bid roughly $ 40 million in cash to acquire all of Nostalgia’s outstanding stock, after rival bidder, Concept Communications, disclosed it was buying […]

  • Mipcom: Beta Film, Neuesuper Team for

    Mipcom: Beta Film, Neuesuper Team for ’Hamburg Hustling’ (EXCLUSIVE)

    The Nostalgia Network, the money-losing cable channel being sought by a handful of suitors, encouraged shareholders to spurn a tender offer made by Pat Robertson’s International Family Entertainment Inc. last week. IFE bid roughly $ 40 million in cash to acquire all of Nostalgia’s outstanding stock, after rival bidder, Concept Communications, disclosed it was buying […]

  • BBC and ITV's U.S. Streaming Service

    BBC and ITV's U.S. Streaming Service BritBox Buys FremantleMedia Package

    The Nostalgia Network, the money-losing cable channel being sought by a handful of suitors, encouraged shareholders to spurn a tender offer made by Pat Robertson’s International Family Entertainment Inc. last week. IFE bid roughly $ 40 million in cash to acquire all of Nostalgia’s outstanding stock, after rival bidder, Concept Communications, disclosed it was buying […]

More From Our Brands

Access exclusive content