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Technology Stocks : CAWS - Wireless Cable (New and Improved)
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To: Tom Duxbury who wrote (775)12/6/1996 3:14:00 PM
From: Stanley L Brown   of 5812
 
Tom,

Not on Dow Jones, PRNewswire, PR is generally where compant corespondence come from, nothing yet. Last thing I have seen was a Dow Jones 12:59 post.

12/06 12:59-DJ: CAI Wireless Shares Slide 43% As Baby Bells Abandon Tele-TV

Plans

NEW YORK -(Dow Jones)- Shares of CAI Wireless Systems Inc. tumbled 43%
Friday on news that three Baby Bells have abandoned their investment in
interactive television.
In early afternoon Nasdaq trading, CAI Wireless shares were down $1.19 at
$1.56 on volume of 7.9 million shares, compared with average daily volume of
about 610,000.
Bell Atlantic Corp., Nynex Corp. and Pacific Telesis Group said Friday they
decided not to pursue Tele-TV, a venture in which they had invested about a
half billion dollars over the past two years. It was supposed to be the
hallmark of interactive television at a time when its was envisioned that
fiber-optic TV systems would lead the way on the Information Highway. Instead,
the Internet took the lead.
Albany, N.Y.-based CAI Wireless had planned to deliver video programming for
New York-based Nynex and Philadelphia-based Bell Atlantic. It and the other
so-called wireless-cable TV firms beam programming into homes via microwave
signals rather than by coaxial cable.
In October, CAI Wireless investors expressed dissatisfaction after learning
of delays in the wireless-cable company's Tele-TV deal. The company's stock
fell 28% to $5.25 in a one-day sell-off October 4.
Nynex and Bell Atlantic own stakes in CAI. Pacific Telesis also has wireless
cable-holdings.
Copyright (c) 1996 Dow Jones & Company, Inc.
All Rights Reserved.

Symbol(s): CAWS

Stan
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