TEE-COMM GOES INTO RECEIVERSHIP
By Adnews Staff
The Bank of Montreal has pushed Milton, Ont.-based Tee-Comm Electronics Inc. into receivership. Tee-Comm operates the direct-to-home AlphaStar Canada satellite TV service. Tee-Comm's five member board of directors has resigned and Price Waterhouse Associates, which has been appointed interim receiver, took control of Tee-Comm's assets last week. For the present, Tee-Comm's management will continue to run the company, which has 6,000 Canadian subscribers.
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