TAFT &lt;TFB> REJECTS 145 DLR/SHR OFFER

  Taft Braodacasting Co said its board
  of directors unanimously decided not to accept the pending
  proposal of Theta Corp, an investor group led by Dudley Taft.
      The decision was based on, among other things, the advise
  of its financial advisors, goldman sachs and co, that the offer
  of 145 dlrs per share was inadequate.
      Taft said the board concluded that the offer failed to
  recognize fully the future propsects of the company and
  directed management to explore alternatives including possible
  financial restructuring.
  

