Data Broadcasting Corp., which has administrative offices in Jackson, Wyo., and operations in New York City and California, has signed a letter of intent to acquire Broadcast International, 7050 S. Union Park Centre, a company supplying business information and financial market data.

According to the agreement, DBC will pay $2.25 in cash for each share of BI common stock. The merger will be structured to be tax-free for the common stock portion of the consideration.Consummation of the transaction is subject to continued negotiation and execution of a definitive merger agreement, government approval and stockholder approval by both sides.

DBC provides real-time financial market data, analytics, news and sports information.

Allan Tessler and Alan Hirschfield, co-chief executive officers of DBC, said the merger will enable their company to expand their market position significantly as a leading provider of financial, sports and other information and service. It also will provide entry into the business satellite arena and create an enterprise "50 percent larger than our existing base."