Interactive Network Inc, Mountain View pioneer of interactive television services, says it sold 1m common shares to Gannett Co Inc at $5 per share. Additional funding came through the conversion of a prior $1m loan from General Electric Co’s National Broadcasting Co and Cablevision Systems Corp, an additional $250,000 from NBC and $400,000 from a […]
Interactive Network Inc, Mountain View pioneer of interactive television services, says it sold 1m common shares to Gannett Co Inc at $5 per share. Additional funding came through the conversion of a prior $1m loan from General Electric Co’s National Broadcasting Co and Cablevision Systems Corp, an additional $250,000 from NBC and $400,000 from a Sandler Capital Management partnership. The funding was arranged for it by PaineWebber Inc.
