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

  Taft Broadacasting Co said its
  board of directors unanimously decided not to accept the
  pending buyout proposal of &lt;Theta Corp>, an investor group led
  by Dudley Taft.
      The decision was based on, among other things, the advice
  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.
  

