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DELAWARE COURT RULES IN FAVOR OF NOSTALGIA NETWORK MANAGEMENT'S EFFORT TO NEGOTIATE SALE OF THE COMPANY

 LOS ANGELES, July 8 /PRNewswire/ -- The Nostalgia Network, Inc. (OTC: NNET) today reported that a Delaware state court has refused to issue a temporary restraining order prohibiting Nostalgia Network and its Chairman Michael E. Marcovsky from negotiating the possible sale of the Company. Dissident Nostalgia directors through Concept Communications, Inc., which currently owns 27 percent of Nostalgia, had applied for the restraining order last week, as part of their ongoing effort to take over the Company. In refusing to grant a temporary restraining order the Court found that Marcovsky's efforts to find alternative buyers for Nostalgia represented a faithful exercise of management's fiduciary obligations to the public shareholders of the Company. Specifically, Chancellor William T. Allen ruled that the Nostalgia has "...an obligation to try and do something that is in the best interests of all the shareholders." In declining to enjoin Chairman Marcovsky, the Court emphasized the responsibility and obligation of the Board of Directors to the public, "It may be the last time that the public shareholders have somebody negotiating for them...."
 The Delaware decision represents a significant victory for Nostalgia Chairman Michael E. Marcovsky in an ongoing battle for control of the Company. Commenting on the decision, Mr. Marcovsky said that the incumbent management is now free to find "alternatives that are better from the point of view of the public shareholders."
 The Nostalgia Network is the only 24 hour basic cable television service that targets the rapidly growing and increasingly affluent market of active adult Americans over 45 by offering entertainment, lifestyle and informational programming and currently serves more than 14 million subscribers via satellite to approximately 740 cable television systems throughout the United States.
 -0- 7/8/93
 /CONTACT: Michael E. Marcovsky, Chairman & CEO, of Nostalgia Network, 213-850-3000; or Desmond Towey and George Robinson of Desmond Towey & Associates, 212-888-7600 for Nostalgia Network/
 (NNET)


CO: The Nostalgia Network, Inc. ST: California IN: ENT SU:

LG -- NY020 -- 9382 07/08/93 09:29 EDT
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Publication:PR Newswire
Date:Jul 8, 1993
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