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CHILDREN'S BROADCASTING CORPORATION

 MINNEAPOLIS, Aug. 10 /PRNewswire/ -- Children's Broadcasting Corporation (NASDAQ: AAHS) announced today that it had reached a preliminary agreement with Orange County Broadcasting Corp. (OCB) to acquire OCB, which operates radio station KPLS-AM in Los Angeles. KPLS is currently operating as a network affiliate of Children's Satellite Network. The terms of the agreement were not disclosed.
 OCB, which broadcasts Radio AAHS(TM) programming on a 24-hour basis, broadcasts in the largest radio advertising market in the United States. The acquisition will be subject to reaching a definitive merger agreement, a due diligence review by the company, FCC approval and other conditions.
 Christopher T. Dahl, president and chief executive officer of Children's Broadcasting, stated that the acquisition of KPLS, currently a network affiliate, allows Children's Broadcasting to be in an ownership position in the major Los Angeles market, allowing the company to capture the entire advertising revenue stream from sales of the company's developing network in this market with a population of approximately 11.5 million people.
 Children's Broadcasting Corporation develops, produces and broadcasts innovative radio programming for children age 12 and under and their parents. The company is the only radio network in the United States providing 24-hour programming for children and their parents by satellite from its flagship station, WWTC-AM in Minneapolis. The company has additional network affiliate agreements in the following markets: Washington, D.C.; Phoenix; Salt Lake City; Abilene, Texas; Wilkes-Barre/Scranton, Pa.; Baltimore and Denver.
 Children's Broadcasting Corporation also recently acquired the secured debt of Marsh Broadcasting Corp., a Los Angeles-based radio station holding company in bankruptcy, which operated six AM radio stations located in the following markets: Dallas/Fort Worth; Houston; Washington, D.C.; Kansas City; Milwaukee; and Minneapolis. The company's offer to acquire the Marsh Broadcasting stations in exchange for the secured debt is pending before a federal bankruptcy court in Los Angeles.
 Broadcasting as Radio AAHS(TM), the company's programming includes music, stories, current events, weather, interactive quizzes, interviews and discussions aimed at entertaining and informing children and their parents.
 -0- 8/10/93
 /CONTACT: Christopher T. Dahl, president and CEO, or James G. Gilbertson, CFO, of Children's Broadcasting, 612-338-3300/
 (AAHS)


CO: Children's Broadcasting Corp.; Orange County Broadcasting Corp.;
 Marsh Broadcasting Corp. ST: Minnesota, California IN: ENT SU: TNM


MF-JL -- LA037 -- 1443 08/10/93 22:51 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
Words:384
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