Word: warners
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Dates: during 1990-1999
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...video-game industry is being propelled forward by a technological imperative that is reshaping most forms of entertainment. America's telemedia giants -- from AT&T and Time Warner to Tele-Communications Inc. and the proposed Paramount-Viacom combo -- are spending billions to turn today's passive television broadcast system into a two-way, interactive information highway capable of delivering not just movies, sitcoms and news on demand, but the world's greatest video games as well...
...part the clarity of Hawkins vision of that highway, and how video games fit on it, that made him so attractive to investors -- and to more than 350 of the cleverest video-game designers in the business. His early backers include AT&T, Time Warner and Matsushita (which owns Panasonic and Universal, one of the biggest Hollywood studios...
Sega, meanwhile, has made a couple of deals that could prove prescient. In one, Time Warner and Tele-Communications Inc. have agreed to create a special Sega channel on their cable-TV systems that would give subscribers access to 50 games each month. In another important pact, Sega has allied itself with AT&T to create a special cartridge called the Edge 16 that would enable Sega Genesis owners to compete with similarly equipped players anywhere in the world over ordinary telephone lines...
...Muppets. Then in 1982 Atari licensed E.T. for $23 million and proceeded to turn it into one of the worst video games ever made. The resulting disaster, known in the industry as "the crash of 1984," brought Atari into bankruptcy court and nearly dragged down its corporate parent, Warner Communications, as well. Some of those unsold E.T. cartridges can still be found on the dusty back shelves of retail stores...
...Paramount Communications look like a marriage made in heaven. The merged company, to be called Paramount Viacom, would unite Paramount's film and television studios with Viacom's cable systems and its networks such as MTV and Nickelodeon. Result: a global giant primed to compete with heavyweights like Time Warner, Tele-Communications Inc. (TCI) and Rupert Murdoch's News Corp. in everything from making movies to building an interactive electronic highway into the home. "It's absolutely the best fit" of all the recent media mergers, says Frank Mancuso, former president of Paramount and now head...