Nostalgia Losses Grow

Author:
Publish date:
Updated on

Washington -- Goodlife Television Network
continued to suffer rising losses and falling revenue due to subscriber declines during
1997, its parent company, Nostalgia Network Inc., said in its latest quarterly report at
the Securities and Exchange Commission. Quarterly revenue declined 32 percent, mostly due
to lower ad sales, and operating cash flow fell 11 percent.

But Nostalgia's majority stockholders -- affiliates of
the Unification Church -- have committed to provide up to $11.5 million in debt financing
for the rest of the year, $3 million of which was lent in late July and mid-August,
filings showed.

Related