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C-TEC CORPORATION ISSUES ANNOUNCEMENT

 C-TEC CORPORATION ISSUES ANNOUNCEMENT
 NEW YORK, Dec. 18 /PRNewswire/ -- The adjourned Special Meeting of


Shareholders of Mercom, Inc. (NASDAQ: MERO), was reconvened on Dec. 17 for the purpose of receiving the certified result of voting for new directors and on various issues contained in proxy solicitations by Mercom management and C-TEC Corporation (NASDAQ: CTEX) for the prior special meeting held on Dec. 6.
 Following the report of the judges of election, the newly elected board members were duly recognized. They were: Pasco P. Bangor, general manager, Adelphia/Northeast Cable; Brian Deevy, president, Daniels & Associates; Clifford L. Jones, advisor to the president of the Pennsylvania Chamber of Business and Industry; Michael J. Mahoney, executive vice president, C-TEC Cable Systems, Inc.; Charles E. Parente, president and chief executive officer of C-TEC; Harold J. Rose Jr., partner, RK Associates; Andrew J. Sordoni III, chairman of C-TEC; William B. Sordoni, vice chairman of C-TEC; George C. Stephenson, managing director, PaineWebber Incorporated; and Jack H. Thomas, executive vice president of C-TEC.
 Immediately following the adjournment of the special meeting, a meeting of the board of directors of Mercom, Inc., was called to order and the written resignation of William L. Matheson as chairman of the board of directors was accepted and a new slate of officers, proposed by C-TEC Corporation, was approved. They are: A.J. Sordoni III, chairman; C.E. Parente, president and chief executive officer; J.H. Thomas, executive vice president and chief operating officer; M.J. Mahoney, executive vice president; R. Troop, vice president; J.E. Bogdan, vice president, chief financial officer and treasurer; R.B. Ostroski, vice president, general counsel and secretary; T.J. Marshall, assistant secretary; and R.J. Burnheimer, assistant treasurer.
 The reorganization of Mercom included the appointment of a newly constituted audit committee, executive committee and a special committee to review affiliate transactions. Issues such as a proposed management arrangement with C-TEC Cable Systems, Inc., and disposition of the Mercom Shareholders Rights Plan are currently being investigated by the special committee which will report to the full board as soon as possible. Among other issues which were acted upon by the board was the termination of the management agreement with James Enterprises, Inc., and termination of a financial services agreement with Morgan Guaranty Trust Company of New York.
 The new management said it expects to present a comprehensive report to shareholders as soon as a thorough review of Mercom's operations and administration has been concluded.
 -0- 12/18/91
 /CONTACT: Patricia Amendola of C-TEC, 717-825-1135/
 (MERO CETX) CO: Mercom, Inc.; C-TEC Corporation ST: Pennsylvania IN: SU:


MK-CC -- PH027 -- 3575 12/18/91 16:38 EST
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Publication:PR Newswire
Date:Dec 18, 1991
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