ACTON &lt;ATN> TO SELL UNIT FOR GAIN

  Acton Corp said it has agreed to
  sell its five Michigan cable television systems to Wisconsin
  Cablevision Inc for about 9,500,000 dlrs, resulting in a gain
  of about six mln dlrs.
      The company said the sale is subject to review by local
  authorities.  The systems have about 7,500 subscribers.
      Acton said proceeds will be used to retire bank debt.
      The company said it has also entered into a 15.5 mln dlr
  bank credit agreement that will allow it to complete the
  prepayment of all its obligations to members of its present
  bank syndicate.
      The company said the new credit will also allow it to
  prepay some other debt and redeem its Class C Series Two
  preferred stock.
      It said the new facility has allowed it to take full
  advantage of an early payment discount of about 13 mln dlrs in
  principal and interest which was negotiated with its banking
  syndicate in connection with an April 1986 financial
  restructuring.
  

