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GOLD N M TELEVISION: UNIFICATION CHURCH ATTEMPTS TO ACQUIRE OWNERSHIP OF NOSTALGIA NETWORK

-- Unification Church Affiliate Guarantees Concept Communication Indemnification And Legal Fees For Acquisition of Nostalgia Stock --
 LOS ANGELES, Calif., Aug. 2 /PRNewswire/ -- Gold N M Television Inc., a major shareholder in Nostalgia Network, Inc. (NASDAQ-OTC: NNET) and owned by Michael E. Marcovsky, who is also chairman of Nostalgia, today disclosed tangible evidence of the previously alleged close link between Concept Communications Inc., a would-be acquirer of Nostalgia Network, and Rev. Sun Myung Moon's Unification Church.
 Gold N M reported that documents filed with the SEC last week by M/A Burgers, Inc. coincident with its sale of 1,500,000 shares of Nostalgia, for approximately $1.61 per share to Concept Communications, clearly show the relationship between Rev. Moon's Unification Church and Concept
Communications. Marcovsky observed that Concept partisans have characterized the sale as an arms-length "public" sale, but examination of the M\A Burger filing reveals a different story. The filing contained the representation that "Atlantic Video, Inc. will guarantee the performance of Concept's obligations...." in connection with the purchase. Atlantic Video is Nostalgia Network's largest creditor and provides the company with its satellite uplink, playback and production services without which Nostalgia could not distribute its product. "More importantly," Marcovsky added, "Atlantic Video is a wholly owned subsidiary of One Up Enterprises, Inc. which is domiciled at the Falls Church, Va. address for the Moon enterprises, Marcovsky pointed out. One Up, he additionally pointed out, in turn, is wholly-owned by the Unification Church and upstreams all of its net income to the Unification Church."
 Marcovsky continued, "Concept has been described in court documents as solely a legal entity with no assets, employees or offices, which exists merely to acquire Nostalgia and draw it into the Moon enterprise at the lowest cost possible to Moon and, consequently, the least benefit to the true public shareholders who stand to suffer should Concept succeed in its scheme."
 In a separate development, Concept may exercise its buy-sell right to purchase Marcovsky's remaining holdings for $3.00 per share. Marcovsky emphasized that he has been seeking outside buyers for Nostalgia in order to maximize shareholder value for the true public shareholders, his fiduciary responsibility, even if that might mean that he would realize a lower return for his own holdings in the company. Marcovsky also has repeatedly insisted that the Concept control group affirm or disclaim a relationship with Rev. Moon and the Unification Church.
 Gold N M Television, Inc. until last week, when Concept Communications purchased the 1,500,000 shares from M\A Burgers, owned an approximately 23 percent interest in The Nostalgia Network. Marcovsky pointed out that M\A Burgers and Concept wrongly assert that the block had validly had been pledged to M\A Burgers. Gold N M has filed litigation in California, disputing the pledge.
 -0- 8/2/93
 /CONTACT: Michael E. Marcovsky of Gold N M Television, Inc., 213-874-6125, or Desmond Towey and George Robinson, both of Desmond Towey & Associates, 212-888-7600, for Gold N M Television, Inc./
 (NNET)


CO: Nostalgia Network, Inc.; Concept Communications Inc. ST: California IN: ENT SU:

TM -- NY110 -- 8523 08/02/93 16:36 EDT
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Publication:PR Newswire
Date:Aug 2, 1993
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