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Technology Stocks : CAWS - Wireless Cable (New and Improved)
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To: Nitesh P. Patel who wrote (792)12/6/1996 4:57:00 PM
From: Chris Ellip   of 5812
 
NEW YORK, Dec 6 (Reuter) - Pacific Telesis Group (PacTel)
said on Friday that its TeleTV venture with Bell Atlantic Corp

and NYNEX Corp would continue, with funding
unchanged at $100 million from each partner over three years.

A PacTel spokesman denied reports in the Wall Street
Journal and New York Times that the venture would either be
shut down or folded into Bell Atlantic.

He said separate statements from TeleTV and the three
shareholder companies were expected shortly. TeleTV is a joint
venture aimed at producing entertainment and other programming
for video networks that the Bells planned to build.

TeleTV's scope and total funding was earlier this year
trimmed from $480 million a year to $390 million then $300
million, but is being maintained at this level PacTel said.

Speculation of TeleTV's demise has been linked with a
review by Bell Atlantic and NYNEX, confirmed on Friday, of
their commitment to using wireless cable as a method of beaming
TV signals to homes in the north east of the U.S.

The news hit the stock of wireless cable firm CAI Wireless
Systems Inc in which Bell Atlantic and NYNEX have a
$100 million investment. The regional Bells have said nothing
yet about their plans for their investment.

Initial data from trials of CAI's multi-channel multi-point
distribution (MMDS) in Virginia Beach, Va and in Boston have
confirmed that MMDS works less well in the cities of the east
coast than in the flat, low-rise suburbs of California where
systems are already in service.

In a separate statement CAI, defending its system, said it
expects to be able to improve the system's coverage in time to
meet the 75 percent coverage requirements of Bell Atlantic and
NYNEX.

-- Nick Louth, New York newsroom 212 859 1610
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