hi augie;
Sorry, still here. There hasn't been alot to say lately {from the long perspective]. Clearly there has been some trouble completing the deal with TV Guide although I believe it will still get done and soon. If not, we'll just have to wait and hear from the other co's that have been sniffing around srcm lately in case it doesn't. I just wonder what TV Guide is gonna do without that program guide of Source's.
It also appears that the demise of the Insight rollout that your buddy pluvia has been crowing about was once again totally off the mark. At least his record of being wrong remains unblemished.
Insight Communications Expands Interactive Channel's LocalSource to Columbus,
Ohio and Evansville, Indiana
(Business Wire 06/21 19:39:11)
Business Editors & Technology Writers
DALLAS--(BUSINESS WIRE)--June 21, 1999--
MSO Cites Initial Consumer Response in Rockford, Indiana To Pioneering
Suite of Digital Interactive Services
In response to subscriber demand for Interactive Channel's
LocalSource(tm) suite of interactive services now offered in Rockford,
Ill., Insight Communications will expand the delivery of the
pioneering two-way digital package to its systems in Columbus, Ohio
and Evansville, Ind. The announcement was made at the National Cable
Television Association meeting in Chicago last week by Tom Oliver,
president of Source Media's Interactive Channel (Nasdaq:SRCM), and
Michael Willner, president and CEO of Insight Communications.
The Interactive Channel's LocalSource(SM) suite of interactive
services includes a broad spectrum of localized news and content
sourced from the Internet, directory and guide services, local
e-commerce and targeted advertising capabilities. The main
LocalSource(SM) features are DailySource(SM), providing on-demand
news, weather, sports and more, with links to related Web sites and
sponsors; LocalGuide(SM), interactive listings of local cinema,
dining, events and more, with related Web sites; QuickSource(SM),
providing information in such consumer categories as health, legal and
home improvement, and MyNeighboorhood, supplying a wealth of local
information like church and school schedules, local sports schedules,
points of interest and transportation schedules among others.
"Insight's decision to add the Interactive Channel in two more of
its systems is a testament to the LocalSource(SM) digital suite's
success in Rockford," said Mr. Oliver. "Insight subscribers are
proving daily that when presented with an array of valued interactive
capabilities and content, consumers will use and benefit from them."
Key to Insight's successful launch of LocalSource(SM) was the
integration of real-time, two-way capability onto the General
Instrument platform of DCT digital terminals, which deliver Insight
Digital. Enabled by Source's Virtual Modem(tm) software, a zero-cost
download to currently deployed General Instrument (NYSE:GIC) digital
terminals, the Virtual Modem(tm) is compatible with the entire current
GI product line, including the DCT1000, DCT1200 and DCT2000. The
Interactive Channel also has the ability to adapt the Virtual
Modem(tm) to all future generations of digital terminals.
Insight Communications, one of the fastest-growing cable
companies, owns and operates cable systems serving 1.1 million
subscribers. The company began in 1997 with 170,000 subscribers when
it launched a two-tiered strategy to focus its operations on large
clusters like the Indiana group and on market-dominant cable systems.
As a result of the latter strategy, Insight will close its purchase of
the 66,000-subscriber Rockford, Ill., cable system from Cablevision
Systems in January. In addition to his membership on the Board of the
National Cable Television Association (NCTA), Michael S, Willner,
Insight Communications' president and CEO also serves on the Source
Board of Directors.
Source Media is a leader in the development and introduction of
localized new media content, advertising and technology. Source
Media's IT Network provides streaming media content and advertising
services over PC, telephone and digital cable TV. Source's Interactive
Channel is an interactive cable TV programming service designed for
today's digital cable TV programming tiers. The VirtualModem(TM)
division develops and markets the intellectual property, software, and
patents behind the company's interactive cable TV technology, which
includes Internet on TV. In February of 1999, Source Media and United
Video Satellite Group, Inc. (Nasdaq:UVSGA) entered into an agreement
in principle with certain binding provisions to form a joint venture
to focus on the development of local content and interactive services
for the cable television and satellite marketplace.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: Statements that are not historical facts,
including statements about confidence and strategies and plans and
expectations about new and existing products, services, technologies
and opportunities, industry growth, demand, and acceptance of new and
existing products, and returns on investments in products and markets
are forward-looking statements that involve risks and uncertainties
that could significantly impact Source Media. Among the factors that
could cause actual results to differ materially from the Company's
expectations are its ability to secure distribution for the
Interactive Channel; delays in the deployment of digital set-top
boxes; failure to make available advanced analog or digital set-top
boxes incorporating the Company's technology ability to successfully
integrate, retain and grow the acquired customer base into existing
operations; general economic and business conditions; industry trends;
competition; equipment costs and availability; terms and deployment of
capital; availability of qualified personnel; changes in or the
failure to comply with government regulation; and other factors
discussed from time to time in the Company's Annual Report on Form 10K
and other Securities and Exchange Commission filings.
--30--RH/da*
CONTACT: Bender/Helper Impact
Stu Ginsburg, 212/371- 0798
stu_ginsburg@bhimpact.com
KEYWORD: ILLINOIS INDIANA OHIO
INDUSTRY KEYWORD: INTERACTIVE/MULTIMEDIA/INTERNET COMED
ENTERTAINMENT TELECOMMUNICATIONS
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