Word: warner
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...came as somewhat of a surprise when two of the biggest players -- Time Warner, the nation's second largest cable operator, and U S West, the fifth $ largest telephone company -- announced last week that they were becoming digital partners. In a deal that sent television-, telecommunications- and entertainment-industry analysts scrambling back to their spreadsheets, the two companies announced a $2.5 billion strategic alliance in which U S West will supply technological savvy (and an infusion of badly needed cash) in return for 25.51% of Time Warner Entertainment, one of the world's largest collections of entertainment copyrights, including...
...modern cable TV into the two-way, interactive system that will allow consumers to order movies, browse through store merchandise, send pictures of the kids to Grandma, make phone calls and request a wide variety of information services -- all by pushing buttons on their TV remote controls. Time Warner officials now say it will take five years -- not 10, as previously estimated -- for these new services to be rolled out to the company's 7.1 million cable subscribers...
...telephone service in its own region; long-distance phone companies had to pay a hefty fee to, say, BellSouth, in order to connect to a phone customer in Atlanta. But through its new alliance, U S West will, in theory, be able to provide local phone service to Time Warner cable subscribers outside the Western states, threatening to grab a share of the long-distance connect charges that account for a quarter of the Baby Bells' revenues and half their profits...
...LABEL: WARNER...
...carrying them out. One of managing editor Jim Gaines' first steps after taking over TIME last February was hiring benign-looking Kurt Andersen, 38, editor of Spy magazine. If you haven't heard, Spy is the quintessence of witty and savage satire. It has not spared our proprietor, Time Warner, nor most other major American institutions. Have we unleashed a bomb thrower? Not to worry. Andersen, a man of very many talents, is a former writer in TIME's Nation section who wrote cover stores on Lee Iacocca, Jesse Helms and the death penalty. He is committed to our straight...