Word: amex
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American Express last week joined the most exclusive club in U.S. business: the often quoted Dow Jones index of 30 leading industrial companies. No one was more surprised than Amex officials when they learned that they were replacing the ailing Manville Corp. on the blue-chip list that includes Exxon, General Motors, A. T. & T. and other giant firms. Said Amex Chairman James Robinson III: "We are simply delighted." Added Sanford Weill, chairman of the firm's executive committee and Shearson/American Express, the second largest U.S. brokerage: "I pinched myself to make sure it was true...
Qube, Warner-Amex's two-way cable service, is just shaking down in Dallas, but there is some apprehension that it may be too good to resist. Customers pay a monthly $9.95 for access to 80 channels and the Qube system, then an additional fee for each of the five subscription channels. There will soon be hundreds of pay-per-view attractions each month that could turn a video freak into an unintentional deadbeat. In conjunction with the Dallas city council, Warner-Amex has discussed setting a debt ceiling for customers. In Columbus, Warner-Amex officials already have...
...Playboy production people promise more enterprising features for the future, including longer interviews, perhaps even with some political types. However the format is modified, Playboy and Escapade have a strong start on what is expected to be a thriving part of the cable business. Warner Amex already has an adult service as part of its Qube system in Columbus. Penthouse, promising "more provocative, more controversial and much more stimulating material," may be starting up its cable operation this year, and by 1983 Escapade will be re-christened the Playboy Channel. A lot of folks like to watch late-night...
...Warner Amex and Home Box Office, a subsidiary of Time Inc., plunked down $ 13.7 million and $ 12.5 million respectively for two of the transponders. The high bidder, however, was a new outfit called Transponder Leasing Corp., which paid $14.4 million, and will presumably now turn around and lease out its space to other companies. Also high in the reckoning was Billy H. Batts, 46, a lay minister based in Chattanooga, Tenn., who has plans to establish a Protestant Evangelical and family-entertainment network. That must be a record price for a pulpit...
There are other communications satellites now in orbit (Westar 1, Comstar D2), but cable programmers like Warner Amex and HBO regard the Satcoms as particularly desirable. Reason: their customers, the cable operators around the country, have antennas that can pick up signals from only one satellite at a time. Naturally, the cable operators would rather invest in a single antenna and still receive the widest possible variety of programs to pass on to home subscribers. Since the Satcoms carry almost nothing but cable signals, they offer such a variety. Thus for programmers, leasing a transponder on a Satcom is like...