TAFT &lt;TFB> TO CONTINUE TO REVIEW ALTERNATIVES

  Taft Broadcasting Co said its
  board continues to explore alternatives, such as a possible
  financial restructuring, in response to a Theta Corp offer of
  150 dlrs per share for Taft stock.
      Last week Taft rejected a 145 dlr-a-share bid by Theta, an
  investment group headed by Taft's vice chairman, Dudley Taft.
      Taft also said the new proposal would be submitted to the
  board but no decision had been made with respect to the sale of
  the company.
      In the proposal, Theta said it was prepared to discuss all
  aspects of the offer including price, structure and form of
  consideration and would be prepared to negotiate a transaction
  in which shareholders would receive a value in excess of 150
  dlrs per share.
      Taft said Theta requested that the company cooperate and
  provide it with information subject to an appropriate
  confidentiality agreement.
      The company declined to comment beyond this statement.
  

