MICROSOFT AND NBC TO ANNOUNCE DEAL THIS MORNING

     NBC and Microsoft are expected to announce this morning they
will combine to invest up to $100M over the next several years in
a new 24-hour news channel, according to the L.A. TIMES.  Sources
say the two are looking at other ways to "combine NBC's brand
names with Microsoft's personal computer networks."  America's
Talking, an NBC-owned cable channel, will be canceled to provide
a platform for the news network.  NBC News President Andrew Lack
will oversee the new network (John Hall, L.A. TIMES, 12/14).
Microsoft is expected to pay close to $100M for half-interest in
the new channel (Bill Carter, N.Y. TIMES, 12/14).