C.O.M.B. &lt;CMCO> TO ACQUIRE REST OF CABLE VALUE

  C.O.M.B. Co said its board has
  approved a proposal to acquire the 50 pct of Cable Value
  Network held by its cable television industry partners in
  exchange for warrants for C.O.M.B. common.
      The company, which already owns the other 50 pct of CVN,
  said it plans to change its name to CVN.
      C.O.M.B. said the proposal calls for its cable partners to
  receive about eight mln five year warrants in exchange for
  their 50 pct interest in CVN and commit to a long-term
  affiliation agreement to carry CVN programming.
      C.O.M.B. said the proposed warrants would carry an exercise
  price of 18.125 dlrs a share.
      It said the 7,869,353 warrants originally offered to cable
  partners will continue to vest on the pre-agreed schedule. The
  company now has about 18.1 mln shares outstanding.
      C.O.M.B. said the transaction is subject to the parties
  entering into an agreement which would be subject to approval
  by its shareholders and regulatory agencies.
  

