NBC GOES DIGITAL WITH AFFILS: At the opening of the
National Assoc. of Broadcasters convention in Las Vegas today,
NBC President Robert Wright is expected to announce that the
network will join with MCI and computer makers Sun Microsystems
and Silicon Graphics to create a high-speed data connection to
replace satellite transmission between the network and its
affiliates. The 20 NBC affils on trial will be able to scan
network programming and receive only the video they want. Neil
Braun, head of NBC's affiliate relations: "We want to be the
network that every station wants to be in business with"
(Laurence Zuckerman, N.Y. TIMES, 4/15). In Sunday's N.Y. TIMES,
Bill Carter profiles Wright and NBC's resurgence under his
leadership. Wright said a future goal is to add "another
entertainment oriented vehicle," like a TNT or a USA Network
(N.Y. TIMES, 4/15).
CLEAR FUTURE: Westinghouse will announce plans to develop a
solid-state transmitter that will carry high-definition or
digital TV signals by '99 (USA TODAY, 4/15).
ROCKET MAN: This week's BUSINESS WEEK cover story is on
GM's Hughes Electronics Corp. and its success through direct
broadcast satellite. Hughes Chair Michael Armstrong is credited
with making the company "into one of the hottest consumer-
electronics and communications companies around." DirecTV is
expected to break even "early next year" with one analyst
predicting $400M in operating profits on $2B in revenues by '98
(BUSINESS WEEK, 4/22 issue).
TCI MEETS SKEPTICAL WALL STREETERS: When TCI execs brief
bankers in New York this week, Chair John Malone "will try to
convince Wall Street that his vision of cable as a futuristic,
all-purpose information conduit is finally close to reality."
One analyst describes Wall Street's reaction as "Show me"
(Landler & Fabrikant, N.Y. TIMES, 4/15).
FINANCIAL REPORTS: Yahoo! Inc., the company that produces
the popular Web search guide, broke a record for first-day
performance by an IPO. Yahoo's 154% gain on Friday topped Boston
Market's past 143% (N.Y. POST, 4/13). ....Three top entertainment
companies -- Disney, Time Warner and Viacom -- are expected to
post "generally weak results" for the latest quarter (WALL STREET
JOURNAL, 4/15)....AT&T will sell the remaining shares of its
financial unit, AT&T Capital, in a public offering (WALL STREET
JOURNAL, 4/15).
