Americast adds SNET as partner.LOS ANGELES--(BUSINESS WIRE)--June 18, 1996--Americast and Southern New England Telecommunications Southern New England Telecommunications Corporation started operations in 1986 as the holding company for The Southern New England Telephone Company. Prior to 1986, The Southern New England Telephone Company had been a minority holding of AT&T until February 1986, when AT&T Corp. (NYSE NYSE See: New York Stock Exchange :SNG SNG abbr. 1. substitute natural gas 2. synthetic natural gas )(SNET n. 1. The fat of a deer. v. t. 1. The clear of mucus; to blow. ) this morning announced that they have signed a letter of intent under which SNET will join Ameritech Corp., BellSouth Corp., GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) Corp., SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. Communications and The Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. as an Americast partner. This is significant in that it expands Americast's geographic reach into the critical Northeast corridor. "Americast elected to offer SNET partnership, and SNET committed to our venture, only after a long and careful consideration of what each would offer the other," said Stephen A. Weiswasser, Americast chief executive officer. "We are very impressed by SNET's aggressive plans to build , statewide, a high-quality distribution system, and by its commitment to the development of an innovative video product." According to Daniel J. Miglio, chairman and chief executive officer of SNET, "After a careful analysis of all available programming options, we concluded that Americast offers far and away the best overall package for our consumers. "We believe that Americast's approach to production and development of technology and content will enhance our success in what will be a challenging and competitive marketplace by offering customers the next generation in home entertainment." SNET, among the most aggressive broadband network builders, has committed $4.5 billion to deploy its state-of-the-art hybrid fiber coaxial network. The partnership gives SNET the full range of americast(TM) programming and marketing services and access to the venture's innovative technology, which will enable it to compete successfully with other video program providers in Connecticut. "The new partnership will give us a jump start in launching our video service and help us quickly become the home entertainment provider of choice in Connecticut," said Miglio. "Americast will give our customers the greatest level of choice and variety." The americast service is currently being introduced into select markets across the United States. In addition to providing traditional entertainment services, the venture will offer innovative programming and develop such features as video-on-demand, home shopping and a variety of interactive services. SNET anticipates a decision by the Connecticut Department of Public Utilities Control (DPUC DPUC Department of Public Utility Control (Connecticut) ) in September on its cable franchise application. SNET plans to launch its americast service in early 1997. CONTACT: For Americast: Robert Rene, 310/234-1412 or For SNET: Beverly Levy, 203/771-4474 |
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