TAFT &lt;TFB> GIVEN DEADLINE ON BUYOUT PROPOSAL

  Narragansett Capital Inc &lt;NARR>
  said it and Dudley S. Taft have requested a response from Taft
  Broadcasting Co by March 12.
      Earlier today, Taft Broadcasting said Taft, the company's
  vice chairman, and Narragansett had offered 145 dlrs for each
  of Taft's 9.2 mln outstanding shares.
      The company said the offer is conditioned on approval of
  its board, but a spokesman declined comment on whether or not
  the board has scheduled a meeting.
       The Narragansett/Taft group will provide the equity portion
  of the offer by contributing at least 125 mln dlrs in cash and
  Taft Broadcasting common, Narragansett said.
      It said the group has been advised by First Boston Inc's
  &lt;FBC> First Boston Corp that the investment banker is "highly
  confident that financing for the acquisition can be
  consummated."
      Narragansett said the offer is subject to negotiation of a
  definitive merger agreement and definitive financing agreements
  as well as approval by regulators, Taft's board and Taft's
  stockholders.
      The Narragansett/Taft group said its letter to Taft's board
  states the group intends to return control over a significant
  portion of the company's equity to the Taft family while
  providing other stockholders with a means of realizing a very
  attractive value for their shares.
  

