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NOSTALGIA NETWORK TO EXPLORE SALE OR SIGNIFICANT OUTSIDER INVESTMENT

 LOS ANGELES, Nov. 16 /PRNewswire/ -- The Board of Directors of The Nostalgia Network, Inc. (NASDAQ Small Cap: NNET) announced today that it had unanimously authorized the Special Committee of the Board to establish a process by which the Committee would immediately explore the possible sale of the Company or a significant investment in the Company with a view toward maximizing the economic value for all of the Company's stockholders. The Special Committee was directed to consider offers from interested parties and, if acceptable offers are made, to recommend to the Board the offer that it believes would best maximize value for the stockholders. The Special Committee will be assisted in the process by the investment banking firm of Allen & Company, Incorporated. As has been reported, the Company has previously received offers and proposals to purchase all or a portion of the Company's stock or to invest in the Company.
 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- 11/16/93
 /CONTACT: James K. Merrill of The Nostalgia Network, Inc., (213) 463-8149; or Desmond Towey or George Robinson of Desmond Towey & Associates, 212-888-7600, all for The Nostalgia Network, Inc./
 (NNET)


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

TW -- NY087 -- 5204 11/16/93 15:38 EST
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Publication:PR Newswire
Date:Nov 16, 1993
Words:256
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