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AMERICAN BROADCASTING SYSTEM, INC. DELAYS CLOSING OF INITIAL PUBLIC OFFERING

 HUTCHINSON, Kan., Jan. 5 /PRNewswire/ -- American Broadcasting System, Inc. (NASDAQ: AMFMU; AMFMA; AMFMW) announced today that the closing of its initial public offering of units consisting of common stock and class A common stock purchase warrants would not occur as scheduled. The underwriters of the offering have advised the company that certain members of the selling syndicate have indicated that they do not intend to complete the purchase of the units. Pursuant to the provisions of the agreement between the company and the underwriters, the company has granted the underwriters an additional two days in which to find substitute purchasers for such units. At earlier of the end of such two day period or when the underwriters have secured substitute purchasers, the offering will close or be terminated.
 -0- 1/5/94
 /CONTACT: Ronald Shaffer, president of American Broadcasting System, 316-665-7201/
 (AMFMU)


CO: American Broadcasting System, Inc. ST: IN: ENT SU: OFR

LG-WB -- NY042 -- 9387 01/05/94 14:03 EST
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Publication:PR Newswire
Date:Jan 5, 1994
Words:161
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