COMPANY TOWN ANNEX

Nostalgia Network Turns Down Current Offer: Cable TV channel Nostalgia Network, which is the object of a bidding war among three buyers, recommended that stockholders not accept the offers of $2 a share for its common stock and $200 a share for its preferred stock, which were made Nov. 24 by International Family Entertainment Inc. Earlier this week IFE, parent company of The Family Channel and MTM Entertainment, began talks with a special committee of Nostalgia Network board members discussing the possibility of increasing its bid to $3 per share for common and $300 per share for preferred. IFE said talks are continuing.