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INTERNATIONAL FAMILY ENTERTAINMENT FILES INITIAL PUBLIC OFFERING OF 10,000,000 SHARES OF CLASS B COMMON STOCK

 INTERNATIONAL FAMILY ENTERTAINMENT FILES INITIAL PUBLIC OFFERING
 OF 10,000,000 SHARES OF CLASS B COMMON STOCK
 NORFOLK, Va., March 4 /PRNewswire/ -- International Family Entertainment, Inc. ("IFE"), owner of the Family Channel, announced that it today filed a registration statement with the Securities and Exchange Commission for an initial public offering of 10,000,000 shares of Class B common stock. The Class B common stock has been approved for listing on the New York Stock Exchange under the symbol FAM.
 The offering, to be managed by Donaldson, Lufkin & Jenrette Securities Corporation, Merrill Lynch & Co. and Smith Barney, Harris Upham & Co. Incorporated, is expected to be offered initially at between $14 and $16 per share.
 Of the 10,000,000 shares of Class B common stock to be offered, 3,333,333 shares will be sold by the company and 6,666,667 shares will be sold by the Christian Broadcasting Network, which had owned the Family Channel until its sale more than two years ago to IFE.
 International Family Entertainment's proceeds from the sale of stock are expected at between $46.6 million and $53.3 million. Company officials said the proceeds from the offering will be used for general corporate purposes, including the production of original programs, marketing campaigns and possible investments and acquisitions.
 International Family Entertainment produces, exhibits and distributes entertainment programming and related products targeted at families. Its Family Channel is an advertiser-supported basic cable television network that provides family-oriented entertainment programming.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Copies of the preliminary prospectus are available from Donaldson, Lufkin & Jenrette Securities Corporation, 140 Broadway, New York, NY 10005.
 -0- 3/4/92
 /CONTACT: Earl Weirich of International Family Entertainment, 804-523-7301/
 (FAM) CO: International Family Entertainment, Inc. ST: Virginia IN: ENT SU: OFR


GK -- NY016 -- 4813 03/04/92 09:08 EST
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Publication:PR Newswire
Date:Mar 4, 1992
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