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CONTROL OF TM CENTURY TO CHANGE HANDS

 CONTROL OF TM CENTURY TO CHANGE HANDS
 DALLAS, May 12 /PRNewswire/ -- TM Century, Inc. (NASDAQ: TMCI), a


Dallas-based company announced today through its CEO, David Scott, that the company's majority stockholder has entered a letter of intent to sell controlling interest in the company to Lowell W. Paxson of Clearwater, Fla. TM Century produces and markets programming products and services for 5,700 radio stations worldwide. Scott noted that Paxson is one of the founders and president emeritus of the Home Shopping Network ("HSN").
 Paxson retired from HSN in 1991 and returned to owning and operating radio stations. Paxson Broadcasting recently acquired FM and AM radio stations in Jacksonville, Tampa, Orlando and Miami, Fla., making it Florida's largest radio broadcaster. Paxson stated he was acquiring controlling interest in TM Century because of the investment opportunity it represents.
 "TM Century's business is so closely related to the radio industry that it offers a unique platform from which to grow a company that owns and operates radio stations and also provides programming and a full range of audio products and services to radio stations worldwide," said Paxson.
 He also stated, "David Scott, and all the operating officers of TM Century will continue in their positions and all of TM Century's current operations will remain in Dallas." Paxson further stated, "No changes are presently planned for TM Century operations and TM Century's name will remain the same."
 The transaction is subject to negotiation and execution of a definitive agreement and certain other conditions being met. Closing is targeted for June 1, 1992 and it will give Paxson 63 percent ownership interest in TM Century.
 Paxson Broadcasting owns WROO 107.3 FM in Jacksonville, Fla. and is awaiting FCC approval to acquire 100 percent of the ownership of WNZS 930 AM in Jacksonville. In Orlando, Fla. Paxson Broadcasting owns WZTU 104.1 FM and WWNZ 740 AM. In Tampa, Fla., Paxson Broadcasting owns WHPT 102.5 FM and WHNZ 570 AM, and in Miami, WZTA 94.9 FM and WINZ 940 AM.
 TM Century products include radio station identification jingles, instrumental backgrounds for commercials, compilations of popular music for each radio format on compact discs, plus software and equipment for music scheduling and control.
 Glenn Serafin, of Florida based Communications Equity Associates, brokered the transaction on behalf of Paxson.
 -0- 5/12/92
 /CONTACT: David Scott, CEO of TM Century, 214-448-0027, or Lowell W. Paxson, president of Paxson Broadcasting, Inc., 813-536-2211/
 (TMCI) CO: TM Century Inc. ST: Texas IN: FIN SU:


TQ -- NY053 -- 9068 05/12/92 11:15 EDT
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Publication:PR Newswire
Date:May 12, 1992
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