SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Earliest Event Reported): January 16, 1996
Exact name of Registrant
as specified in its charter: The Diana Corporation
State or Other Jurisdiction of Incorporation: Delaware
Commission File Number: 1-5486
I.R.S. Employer Identification Number: 36-2448698
Address of Principal Executive Office: 8200 West Brown Deer Road
Suite 200
Milwaukee, WI 53223
Registrant's Telephone Number, Including Area Code: (414) 355-0037
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On January 16, 1996, The Diana Corporation ("Diana") acquired
an additional 30% ownership interest in Sattel Communications Corp.
("SCC"). As a result, Diana increased its ownership interest in
SCC from 50% to 80%. Diana issued 350,000 shares of its newly
issued common stock ("the Diana Shares") to Sattel Technologies,
Inc. ("STI") in connection with the transaction. STI retained a
20% ownership interest in SCC. In addition, Diana has agreed to
undertake certain obligations to register the Diana Shares and to
grant STI certain registration rights with respect thereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of businesses acquired.
It is impracticable to provide the required
financial information at the time of the filing of
this report. The required financial information
will be filed within 60 days.
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(b) Pro Forma Financial Information.
It is impracticable to provide the required pro
forma financial information at the time of the
filing of this report. The required pro forma
financial information will be filed within 60 days.
(c) Exhibits
99.1 Press release dated January 17, 1996.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.
THE DIANA CORPORATION
(Registrant)
Date: January 31, 1996 /s/ R. Scott Miswald
Vice President and Treasurer
THE DIANA CORPORATION
8200 W. BROWN DEER ROAD, SUITE 200
MILWAUKEE, WI 53223
For Further Information
Contact
Richard Y. Fisher
(414) 355-0037, Ext 202
THE DIANA CORPORATION COMPLETES SATTEL ACQUISITION
Milwaukee, WI, January 17, 1996, The Diana Corporation (NYSE-DNA),
announced today that it concluded the acquisition of an additional 30% of
Sattel Communications Corporation, thereby increasing its ownership position
from 50 percent to 80 percent. Diana issued 350,000 shares of common stock
to Sattel Technologies, Inc. in connection with the transaction. Sattel
Technologies, Inc. retained a 20 percent interest in Sattel Communications
Corporation.
Sattel Communications Corporation is a manufacturer of technologically
advanced central office telecommunications equipment for use in public
switched telephone networks and in private data networks.
