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CHILDREN'S BROADCASTING CORPORATION ANNOUNCES ACQUISITION OF SECURED DEBT OF MARSH BROADCASTING CORPORATION

 MINNEAPOLIS, June 24 /PRNewswire/ -- Childrens's Broadcasting Corporation (NASDAQ: AAHS) announced today that it has acquired, for the sum of $2,900,000, approximately $7.2 million of secured debt of Marsh Broadcasting Corporation. Marsh, based in Los Angeles, is a holding company operating, through subsidiaries, six AM radio stations located in Dallas/Ft. Worth, Kansas City, Houston, Milwaukee, Washington D.C. and Minneapolis.
 The Marsh organization is being liquidated pursuant to a plan confirmed by a federal bankruptcy court in Los Angeles. Children's plans to make an offer to the liquidating trustee to acquire the stock of the six Marsh stations, based upon its position as a secured creditor. Acquisition of the properties is subject to bankruptcy court approval. Children's anticipates operating the stations under interim time brokerage agreement until FCC licensing is secured.
 "The acquisition of the Marsh Broadcasting secured debt place us in excellent position to acquire AM radio properties at advantageous prices in at least four key markets at a pace faster than we have previously anticipated," said Christopher T. Dahl, president of Children's Broadcasting Corporation. "This strategic move not only enables us to accelerate our AM radio station acquisition program, but is expected to improve cash flow and enable us to maximize economies of scale," stated Dahl. Dahl indicated that the company does not have a firm plan for conversion of the stations to the Radio AAHS(TM) programming format. He indicated that the company would be cautious in converting the stations to the format because several of the stations generated positive cash flows from their current programming activities.
 Children's Broadcasting Corporation develops, produces and broadcasts innovative 24-hour radio programming for children 12 and under and their parents. The company broadcasts its programming, called Radio AAHS, by satellite from studios located in Minneapolis, to a developing network of radio stations around the country. Radio AAHS is carried by additional stations in Phoenix; Salt Lake City; Abilene, Texas; Los Angeles; Ventura County, Calif; and Washington D.C. The company has also entered into affiliation agreements with stations located in Denver; Baltimore and Wilkes Barre-Scranton, Pa.
 This announcement is neither an offer to sell nor a solicitation of offers to buy any of the securities.
 -0- 6/24/93
 /CONTACT: Christopher T. Dahl, president of Children's Broadcasting Corporation, 612-926-1280/
 (AAHS)


CO: Children's Broadcasting Corporation ST: Minnesota IN: TLS SU: TNM

DB -- MN002 -- 5166 06/24/93 08:53 EDT
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Publication:PR Newswire
Date:Jun 24, 1993
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