Prodigy unit of IBM, Sears turns to cable
Article Abstract:
Prodigy Services Co, a joint venture of IBM and Sears, Roebuck & Co, wants to enlist cable TV companies to deliver its consumer services, which include games, teleshopping arrangements and bulletin boards. Prodigy's rivals, which are America Online Inc and CompuServe Inc, are said to be planning to do the same thing. Personal-computer services will encounter competition in the interactive-television market. For example, Viacom International Inc, which owns MTV, VH-1 and Nickelodeon, has announced plans to cooperate with AT&T to test interactive versions of its channels. Prodigy's proposed service is made possible by a new cable-converter box jointly developed by General Instrument Corp's Jerrold Communications, Intel Corp and Microsoft Corp. The device combines the power of an advanced microcomputer with Microsoft's user-friendly Windows interface.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
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Tycoon is tapping into on-line service
Article Abstract:
Paul Allen, who co-founded Microsoft Corp with Bill Gates, declares in a Securities and Exchange Commission (SEC) filing that he may try to acquire America Online Inc. America Online, which says it does not want to be acquired, is an outstandingly successful online consumer services company that provides news, games, electronic mail and other services to about 250,000 subscribers. On May 21, America Online's stock advanced $4.50 a share to $34.25 because of rumors that Allen was selling Microsoft stock and was preparing to buy America Online, but sources now say those rumors were false. For the year ended Jun 30, 1992, America Online reported net income of $3.5 million on revenue of $26.6 million.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
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