FYI:
Calm down, Robert. What do you think about this? I'm still 'waiting' to hear MCNS link itself to this Paul Allen venture via the Go2Net connection.
Cheers,
Bond
(COMTEX) B: TBS Pulls Plug on Women's Network
B: TBS Pulls Plug on Women's Network
NEW YORK, Aug 13, 1999 (AP Online via COMTEX) -- Facing high costs and
stiff competition, Time Warner's Turner Broadcasting System has
suspended development of a new cable network aimed at women.
TBS will devote the resources instead to two other networks in
development, a new cartoon channel and a regional Southeastern channel,
as well as promoting its younger networks like Turner Classic Movies
and CNN Sports Illustrated.
TBS, in a statement released Friday, said it was ''not in the company's
best interest or in the best interests of our affiliates to actively
pursue the creation of the Women's Network at this time.'' The story
was first reported in The Wall Street Journal.
The project, which had been in development for a year but announced
just two months ago, would have faced stiff competition for female TV
audiences from the already successful Liftetime channel and a new
channel from Oxygen Media being developed by veteran TV producer
Geraldine Laybourne and talk show host Oprah Winfrey. Oxygen has won
backing from several major investors, including Microsoft co-founder
Paul Allen.
TBS did not say how much money it had earmarked for the new women's
channel, which would have also included the participation of two
magazine publishers, Time Inc., which is also part of Time Warner, and
Conde Nast, publisher of Mademoiselle, Vogue and Glamour.
Katherine Styponias, a media analyst at Prudential Securities, called
Time Warner's move to put the women's network on hold ''a smart
financial decision.''
''If you're starting a third women's channel, you would have to spend
significantly on promotion in addition to all the programming costs,''
she said. ''I applaud Time Warner for taking a critical view from a
financial perspective.''
TBS already had two other new cable channels in the works: Turner
South, due to launch in October, will focus on the Southeast region;
and Boomerang, scheduled to start next April, will offer classic
cartoon shows from the company's Hanna-Barbera library like the
Flintstones and the Jetsons.
TBS' Cartoon Network started out as a showcase for Hanna-Barbera
cartoons but has recently been airing more original programming and
contemporary cartoons.
TBS had planned to put Pat Mitchell, an award-winning producer at CNN,
in charge of the new channel.
Copyright 1999 Associated Press, All rights reserved.
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By SETH SUTEL
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