1996-01-26
Craig A. Johnson
The following is an excerpt detailing the latest media merger news.
-- caj
@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
WASHINGTON TELECOM NEWSWIRE ...
_________________________________________________________________
January 25, 1996 6:40 p.m. ET
MCI, NEWS CORP. ANNOUNCE JOINT VENTURE FOR DBS SERVICE
MCI and News Corporation today announced a joint venture that will use
MCI's expensive new satellite slot to send television to consumers and
transmit information for businesses, a major investment in an industry
that expects to generate $7 billion a year by 2000.
MCI CEO Bert Roberts and News Corporation CEO Rupert Murdoch made
the announcement in a joint news conference just hours after MCI paid
$682.5 million in an auction for a satellite slot that covers the
entire United States.
<...>
The joint venture will include traditional DBS television service
delivered to homes and its satellite will have space for businesses to
send information. "We are not going into this with the singular idea
of TV into the homes," Roberts said.
The move comes days after AT&T announced it was spending $137.5
million to buy 2.5 percent of DBS provider DirecTv, but Roberts
said AT&T's venture is more limited because it focuses on
television.
<...>
# # #
063-96
_________________________________________________________________
For more information contact Washington Telecom Newswire at (202)
872-9200.
Chris Valmassei
Washington Telecom Newswire | Internet: •••@••.•••
@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
~ CYBER-RIGHTS ~
~=-=-=-=-=-=-=-=~=-=-=-=-=-=-=-=-=~-~=-=-=-=-=-=-=-=~=-=-=-=-=-=-=-=-=~
For subscription info, archived postings/documents, and other useful
material, visit the CPSR Cyber-Rights Web Page at:
http://www.cpsr.org/cpsr/nii/cyber-rights/
You are encouraged to forward and cross-post list traffic,
pursuant to any contained copyright & redistribution restrictions.
~=-=-=-=-=-=-=-=~=-=-=-=-=-=-=-=-=~-~=-=-=-=-=-=-=-=~=-=-=-=-=-=-=-=-=~
