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AMALGAMATED ENTERTAINMENT SELLS ASSETS

 NEW YORK, Dec. 31 /PRNewswire/ -- Amalgamated Entertainment, Inc. announced that, as a result of losses in excess of $600,000 for the year ended Oct. 31, 1992, secured creditors of Amalgamated Communications Corp., the company's sole operating subsidiary, including Sony Corporation and United Jersey Bank, compelled the sale of substantially all of the company's assets to satisfy outstanding secured debt.
 Amalgamated, as the result of a 50 percent reduction in sales and the above sale in lieu of foreclosure, has discontinued its operation.
 -0- 12/31/92
 /CONTACT: Herbert Summers, 516-228-8181, for Amalgamated/


CO: Amalgamated Entertainment, Inc. ST: New York IN: ENT SU: TNM

TM-SM -- NY020 -- 0906 12/31/92 12:39 EST
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Publication:PR Newswire
Date:Dec 31, 1992
Words:113
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