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SPORTS MEDIA CONDUCTS WARRANT OFFER

 NEW YORK, May 13 /PRNewswire/ -- Jeffrey S. Butler, chairman and C.E.O. of the board of Sports Media, Inc. (NASDAQ: SPTS), today announced that the Securities and Exchange Commission has declared effective a registration statement restructuring the company's 862,500 publicly traded warrants.
 Effective immediately, the terms of the restructured warrants temporarily reduce the exercise price of the existing warrants and provide for the creation of a B warrant and a C warrant.
 The exercise price of the company's existing warrants has been reduced from $6.50 to $2.50 per share for a 45-day period commencing April 26, 1993. The warrant entitles the holder to receive one share of common stock, one class B warrant and one class C warrant.
 The class B and class C warrants each entitle the holder to purchase one share of common stock until April 26, 1996 and are redeemable by the company under certain conditions described in the prospectus, commencing Oct. 26, 1993. The class B warrants provide for a purchase price of $4.75 and the class C warrants provide for a purchase price of $6.50 per share.
 Mr. Butler noted that if all the A warrants are exercised, the net proceeds to the company would exceed $2 million. The registration and issuance of the B and C warrants could make significant additional funds available in the future if they are exercised.
 In January 1993, Sports Media acquired various team yearbook publishing assets from another company, thereby substantially expanding Sports Media's product line. This enabled the company to commence a new retail distribution program.
 The funds raised from the warrant exercise will be utilized to reduce outstanding debts and provide working capital to further expand the product line and retail distribution program.
 Sports Media is primarily engaged in the business of designing, publishing and marketing professional sports team yearbooks under license arrangements with professional sports teams.
 -0- 5/13/93
 /CONTACT: Jeffrey S. Butler, chairman and CEO of Sports Media, 212-308-6666/
 (SPTS)


CO: Sports Media, Inc. ST: New York IN: PUB SU: OFR

GK-OS -- NY079 -- 8276 05/13/93 16:07 EDT
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Publication:PR Newswire
Date:May 13, 1993
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