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To: Jim Parkinson who wrote (4310)	8/21/1998 10:49:00 AM
From: Valueman	Respond to of 10852

Here is a perfect application for Cyberstar: Nintendo cancels satellite video-game project TOKYO, Aug 21 (Reuters) - Japanese video-game company Nintendo Co Ltd said on Friday it had cancelled a plan to send video games and other data direct to homes via satellite, due to wrangling with a broadcast affiliate. Nintendo said its affiliate Satellite Digital Audio Broadcasting Co, known as St Giga, had not applied to the government for a digital satellite broadcasting license by Friday's deadline. A Nintendo spokesman told a news conference that St Giga managers had refused to approve Nintendo's plan to reduce the firm's capital, a process that would be required to wipe out its accumulated debts. A small broadcaster of digital music and data programming, St Giga had a whopping cumulative debt of 8.8 billion yen as of March this year. Nintendo owns a 19.7 percent stake in St Giga. Nintendo had planned to offer vide games and data programming through a channel on a new BS-4 satellite, due to be launched in 2000. Japanese electronics parts maker Kyocera Corp as well as many content providers had agreed to join hands with Nintendo and acquire stakes in St Giga once it obtained the licence. The spokesman said Nintendo would halt supplies of video-game content to St Giga by the end of next March. Nintendo will also recall five executives loaned to St Giga, but has no plan to withdraw its investment in the company for the time being, he said. --------------------------------------------------------------------------------