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ATC Communications, Dallas, and IQI, Los Angeles, agreed to a stock-for-stock merger valued at about $150 million. The combined company will offer integrated telemarketing services including acquisition, research and customer service. Combined 1997 revenues total about $250 million, with clients including American Express Co.; AT&T Corp.; Procter & Gamble Co.; Sears, Roebuck & Co.; and Western Union.

British Telecom named Blau Tequila, London, to handle direct marketing. The winner is a joint venture of London-based Tequila Worldwide and Barry Blau & Partners, Wilton, Conn. Net fees are estimated at $2 million. Devon Direct, Berwyn, Pa., previously handled.

ValueVision International, a Minneapolis-based direct marketer, and National Media Corp., Philadelphia, an infomercial company, have postponed their shareholder meetings in the wake of opposition to their proposed merger. ValueVision received preliminary notification from holders of more than 5% of its common stock that they intend to exercise their dissenter's rights on the merger. The companies have mutually agreed to postpone their respective shareholder meetings while they negotiate a restructuring of the planned merger that is acceptable to all parties.

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