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To: Lizzie Tudor who wrote (73798)	8/14/1999 3:13:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

Time Warner pulls plug on Women's Network NEW YORK, Aug 13 (Reuters) - Time Warner Inc.'s <TWX.N> Turner Broadcasting System said Friday it pulled the plug on the Women's Network, a cable channel under development with Advance Publications Inc., the privately-held owner of Conde Nast, publisher of House and Garden and Vanity Fair magazines. "TBS has decided that it is not in the company's best interest or in the best interest of our affiliates to actively pursue the creation of the Women's Network at this time," a TBS spokesman said. "We are putting the development of the network on hold. For the time being we feel it best to concentrate on the development of the other two networks we are preparing for launch, Turner South and Boomerang, while also furthering the distribution of our younger networks, Turner Classic Movies, CNN/Sports Illustrated and CNNfn," he added. A source with knowledge of the situation told Reuters the project was unlikely to ever be revived and was aborted because of the high cost of original programming the Women's Network was planning to have. News of the venture's demise comes just two months after it was unveiled. In June, Time Warner and magazine giant Conde Nast said they would join forces to create a cable television network and Web site for women in a "cross-business media strategy." The move would have brought together Time Warner's vast TV, online and magazine holdings with Conde Nast's publishing muscle. Time Warner and Advance are already co-owners of cable television systems. Turner's TV programming includes Cable News Network (CNN) and TNT. Time Inc. publishes magazines such as Time, People and Parenting. The Women's Network would have entered an increasingly crowded field that had been pioneered by the Lifetime Network, jointly owned by Hearst Corp. and Walt Disney Co. <DIS.N>. Another women's channel, Oxygen, is scheduled to be launched next February by Oxygen Media, a privately-held venture formed by Nickelodeon veteran Geraldine Laybourne, TV talk show host Oprah Winfrey and others. In the online universe, women's special-interest sites include iVillage Inc.'s <IVIL.O> ivillage.com. The initial public offering of a similar company, Women.com Networks, was postponed last week due to market conditions. In early afternoon trading on the New York Stock Exchange, Time Warner shares were up 1-3/8 at 68-3/4 and iVillage shares added 4-13/16 to 37-5/16 on the Nasdaq. . REUTERS Rtr 13:56 08-13-99