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ATC ANNOUNCES AGREEMENT IN PRINCIPLE TO ACQUIRE ASSETS OF A CANADIAN FILM/VIDEO COMPANY; REPORTS JURISDICTION AND STATUS OF PENDING LAWSUIT

 DALLAS, Oct. 20 /PRNewswire/ -- ATC, Inc. (NASDAQ: ATCI) today announced that the company has reached an agreement in principle to acquire certain assets of the Canadian film and video company, Market Square Entertainment (MSE). The announcement was made today by ATC, Inc. President Robert H. Lapsley.
 The contemplated transactions with MSE will include the acquisition by ATC, Inc. of Tribal Home Video, FarWest Films and Video Memories Lab, a full feature film library consisting of 45 titles.
 ATC, Inc. expects to acquire Tribal Home Video and FarWest Films in an exchange of approximately 300,000 shares of ATC, Inc. common stock for the outstanding stock of Tribal Home Video and FarWest Films. This transaction is valued at approximately $450,000. Video Memories Lab is expected to be acquired in an exchange of approximately 200,000 shares of ATC, Inc. common stock for the outstanding share of Video Memories Lab. This transaction is valued at $300,000.
 ATC, Inc. expects to acquire the 45-film library, all rights and title, for approximately 500,000 shares of common stock, in a transaction valued at $750,000. Under an anticipated sales and marketing agreement, MSE will be given sole and exclusive Canadian marketing rights for the film library by ATC, Inc.
 In a separate announcement, ATC, Inc. Lapsley also reported that the company's lawsuit with Nationwide Cellular Service, Inc. is now pending in New York state court. ATC, Inc.'s attorneys, Bogle & Gates, have advised the company that it has a meritorious claim. ATC, Inc. intends to pursue this claim vigorously to a satisfactory conclusion.
 ATC, Inc., headquartered in Dallas, Texas, is a publicly-traded corporation engaged in entertainment management, telecommunications and interactive technologies.
 -0- 10/20/93
 /CONTACT: Roslyn Dawson of Dawson/Duncan Communications, Inc., 214-871-1949/
 (ATCI)


CO: ATC, Inc.; Market Square Entertainment ST: Texas IN: ENT TLS SU: TNM

WB -- NY105 -- 4797 10/20/93 17:10 EDT
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Publication:PR Newswire
Date:Oct 20, 1993
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