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BET HOLDINGS, INC. ANNOUNCES ACTION PAY-PER-VIEW DEAL

 WASHINGTON, July 14 /PRNewswire/ -- BET Holdings, Inc. (NYSE: BTV) today announced that its subsidiary Black Entertainment Television, Inc., owner and operator of the BET Cable Network, has acquired an 80 percent interest in Avalon Pictures, Inc., owner of Action-Pay-Per-View, a national satellite pay-per-view channel based in Santa Monica, Calif.
 The company stated that the 80 percent interest had been acquired for a cash outlay of approximately $13,000,000 and the assumption of certain indebtedness. As of June 1, 1993, Action Pay-Per-View had approximately 5 million(A) addressable cable subscribers. The company also stated that the acquisition will be operated under the name "BET Action Pay-Per-View" and indicated no immediate changes to the current program format will occur. The company also confirmed that Curtis N. Symonds, 37, has been named as the new president and chief operating officer to oversee the acquisition's operations. Mr. Symonds currently is executive vice president of affiliate sales and marketing for the BET Cable Network, and will retain the current duties and responsibilities of that position.
 BET Holdings, Inc. operates the BET Cable Network, the nation's first and only advertiser supported basic cable network that specifically targets the viewing interests and concerns of black Americans. Cablecasting 24 hours per day, the BET Cable Network reached 32.2 million subscribers(B) as of April 30, 1993. The BET Cable Network provides a broad mix of black oriented programming both acquired and produced at the company's production facilities in Washington, D.C. and Burbank, Calif. Through BET Holdings, Inc.'s subsidiary, Paige Publications, Inc., the company publishes YSB, a general lifestyle magazine aimed at black teenagers. BET Holdings, Inc. also owns a controlling interest in Emerge Communications, Inc. the publisher of Emerge, a general interest magazine primarily targeted towards an upscale black audience. BET Holdings, Inc. is the first black majority- controlled company listed on the New York Stock Exchange.
 (A) The subscriber number is based on reports to Action Pay-Per- View from cable television systems carrying Action Pay-Per-View.
 (B) The subscriber number is based on reports to the company from cable television systems carrying the BET Cable Network.
 -0- 7/14/93
 /CONTACT: Dannette A. Wills of BET Holdings, Inc., 202-298-8771; or Diana Brainerd of Abernathy/MacGregor/Scanlon, 212-371-5999, for BET Holdings, Inc./
 (BTV)


CO: BET Holdings, Inc.; Avalon Pictures, Inc. ST: District of Columbia, Califor IN: ENT SU: TNM

LG-LR -- NY013 -- 1202 07/14/93 08:24 EDT
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Date:Jul 14, 1993
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