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Technology Stocks : IATV-ACTV Digital Convergence Software-HyperTV -- Ignore unavailable to you. Want to Upgrade?

To: mike.com who wrote (3881)	5/19/1999 7:59:00 AM
From: Steve Hausser	Read Replies (4) \| Respond to of 13157

"MTV has 60 million cable TV subscribers but doesn't yet have a viable way - as is the case with virtually all major cable operators - to allow viewers to make two-way sales transactions over their TV sets." MALONE PACKAGES 'NET DEAL IN BOX SALE By PAUL THARP NEW YORK POST Cable magnate John Malone is kicking his own Internet music enterprise out of his media family by selling it to rival MTV. In exchange for letting MTV take The Box network now, Malone will get a fat chunk of a new music venture being built around MTV's popular brand. The new venture, which will distribute and promote music online and on cable, is expected to be spun off as a public company in about a year. The deal is the latest move in Malone's role in building a valuable collection of passive investments in cable and Internet businesses. Malone will get about 15 percent of the new venture, whose name hasn't been determined yet. As part of the deal, Malone will also throw in his three Internet music sites. The role of his interactive music channel, The Box, in the new company wasn't immediately known. MTV, owned by Sumner Redstone's Viacom Inc., is the nation's fourth-largest music video purveyor. Neither Viacom nor Malone's Liberty Media Group had any immediate comments on the deal. MTV has dominated music videos for 20 years, but company execs don't want to get left behind music's online revolution. MTV has 60 million cable TV subscribers but doesn't yet have a viable way - as is the case with virtually all major cable operators - to allow viewers to make two-way sales transactions over their TV sets. Three of Malone's Internet music sites being included in the deal are SonicNet.com, Streamland.com and Addicted to Noise.com. All are managed by SonicNet.