Word: amex
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Dates: during 1980-1989
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Eventually the system expanded to five other cities and became a joint venture of Warner and American Express. But last week a key part of Warner Amex's ambitious Qube experiment joined the growing list of cable-TV casualties...
Nickelodeon (Warner Amex Satellite Entertainment Co.). A channel devoted to children without being childish. Among its most notable enticements: the Pinwheel puppets for preschoolers, and Livewire, an exuberant variety talk show for early teens...
...learn that MTV is not yet in the black. Supplied free at first to cable services, it now costs cable operators 10? to 15? per customer per month. It may be a little early to expect a profit; no one is even sure how much it costs Warner-Amex to run MTV every year. (The best educated guess is $30 million.) Jack Schneider, Warner-Amex Satellite Entertainment Co. president, predicts profits "some time in 1984," but is vague about numbers. MTV chases advertisers, but, says McCann-Erikson Vice President Paul Green, "the channel's format is so distinctive...
...happening? One place to ask is your local cable company. Seven days a week, 24 hours a day, MTV, the two-year-old Warner Amex channel, beams rock-'n'-roll videotapes into 14 million homes across the nation. The tapes, from established stars like the Rolling Stones to hopefuls like the Fixx, are offered free by recording companies in return for air play. Their impact has gone far beyond promotional gimmickry. Says PolyGram's Kiernan, whose group Def Leppard went platinum after TV exposure: "You can feel the sales right away...
...losers in all three markets were oil-drilling and oil-service stocks. The global glut that drove down crude prices also explains the comparatively meek rise in the Amex index: it is loaded with oil stocks. Its best stock last year, SMD Industries, makes picture frames and stationery. The shares rose by 592%, mostly on the strength of SMD's rights to make school supplies and stationery bearing the likenesses of two of the year's heroes...