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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date or earliest event reported): May 15, 1997
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TRIATHLON BROADCASTING COMPANY
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(Exact name of registrant as specified in charter)
Delaware 0-26530 33-0668235
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(State or Other Jurisdiction (Commission File No.) (IRS Employer
of Incorporation) Identification No.)
Symphony Towers, 750 B Street, Suite 1920, San Diego, CA 92101
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (619) 239-4242
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N/A
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On May 15, 1997, Triathlon Broadcasting Company (the "Company")
acquired Pinnacle Sports Productions, L.L.C. ("Pinnacle"), which holds the
exclusive radio broadcast rights to all of the men's football, basketball and
baseball games and women's basketball and volleyball games of the University of
Nebraska. The purchase price was $3.3 million, of which $1.3 million was paid
on May 15, 1997. Two installments of $1.0 million each are required to be paid
in May 1998 and May 1999. The purchase price may be increased by $1.7 million
if the University of Nebraska renews its current rights agreement with Pinnacle
in 2001 for a minimum three year term. The purchase price was determined in
arms length negotiations between the Company and the Members of Pinnacle.
The Company presently owns two FM radio stations in the Omaha,
Nebraska market, and owns four FM radio stations in the Lincoln, Nebraska
market (the home of the University of Nebraska) and has entered into an
agreement to purchase radio stations KGOR-FM and KFAB-AM, both operating in the
Omaha market. The Company anticipates consummating this transaction within the
next 30 days.
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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 thereto duly authorized.
TRIATHLON BROADCASTING COMPANY
By: /s/ Jan E. Chason
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Name: Jan E. Chason
Title: Chief Financial Officer and
Treasurer
Date: May 16, 1997
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