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Technology Stocks : C-Cube -- Ignore unavailable to you. Want to Upgrade?

To: John Rieman who wrote (28079)	1/14/1998 4:25:00 PM
From: DiViT	Respond to of 50808

BSkyB puts the heat on slow Pace 01/13/98 The Express Page 39 Copyright (C) 1998 The Express; Source: World Reporter (TM) BRITISH Sky Broadcasting yesterday slapped down Pace Micro Technology, one of its key suppliers of set - top boxes. The satellite operator said it would not let problems at Pace further delay the launch of its new digital television services. Digital win offer consumers who buy GBP200 set - top boxes extra channels, more pay-per-view services and near-video on demand. Sky said its services were on track to launch in the second-quarter of this year, much later than originally planned - last February it talked of a 1997 launch - but still earlier than its rivals. The broadcaster's comments came after Pace said it would not be in a position to supply the boxes until the end of May. Sky said it had three other suppliers ready to make the equipment and emphasised that its key selling time would be towards the Christmas period this year. Panasonic, one of the manufacturers, is scheduled to provide 40 per cent of the units required. It could, if necessary, make the whole of the first year's supply. Sky also said a spare satellite would be moved to a new position to give sufficient capacity for its new services by the spring of this year. Uncertainties over the timing of the launch have unsettled the BSkyB share price, which yesterday fell a further 12p to close at 432p. BSkyB's statement came after Malcolm Miller, Pace's new chief executive, said its boxes would not be ready for shipping until the end of May. He blamed the delay on broadcasters' demands for boxes to have more multimedia functions. Miner replaced Barry Rubery, the Pace co-founder who quit last year while having an extra-marital affair with a colleague's secretary. Rubery made more than GBP50 million when Pace floated. David Hood, his business partner, fared even better, netting GBP127 minion. Both retain significant stakes in the company. Yesterday Pace posted losses of GBP12.3 minion in the six months to November, including an unexpected GBP10 million provision. Just three months ago investors were told Pace should be breaking even by now.