Word: giant
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Dates: during 1990-1999
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Other cable companies are already venturing into the telephone business. Among them: Time Warner, the media giant and No. 2 cable firm, which is building a two-way TV system in Orlando, Florida. The company, which last year sold a 26% stake in its cable and entertainment divisions to US West for $2.5 billion, plans to offer local phone service to Time Warner cable customers in Rochester, New York, in 1995. In preparation for that and future phone moves, Time Warner joined TCI and other major cable firms three weeks ago in unveiling plans to spend what could amount...
...reached halfway across the country last year to acquire a pair of cable systems outside Washington. Not only is Southwestern Bell gearing up to provide two-way viewing over those systems, but next year it intends to offer telephone service over those same lines and thereby challenge local phone giant Bell Atlantic on its home ground. (Bell Atlantic is hardly snoozing; it is spending $11 billion for fiber-optic cables and other equipment to bring the information highway to 8 million homes by the year...
...Bell rakes in more revenues in a year than does the entire cable-TV industry. That, plus the phone companies' long experience with two-way communications, has led some experts to predict that cable firms will have to merge or form joint ventures with the Bells, or with a giant like AT&T, to survive in the interactive era. Cable leaders who have tried this include John Malone, chairman of Tele-Communications Inc., the No. 1 U.S. cable company, whose proposed merger with Bell Atlantic fizzled last February...
Bowing to the realities of the post-Cold War era, giant defense contractors Lockheed and Martin Marietta announced they will merge in a $10 billion deal. The new company, to be called Lockheed Martin, will become the Pentagon's biggest supplier. In April two other other defense companies, Northrop and Grumman, said they were merging. While the deal still must clear anti-trust laws, government objections are unlikely, says TIME Pentagon Correspondent Mark Thompson. "Just last year the Pentagon and Department of Justice did a review of the defense industry and concluded that consolidations were natural," says Thompson. "They paved...
Space shuttle Endeavour's launch was aborted just 1.9 sec. before liftoff. The problem was an overheated fuel pump in one of the ship's giant rocket engines. It was the fifth mission scrubbed on the launching pad in 64 flights...