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REGIONAL.

GLOBAL CROSSING chose French telecom company Alcatel to build the US$700-million South American portion of Global's vast fiber optic network. Alcatel will design, manufacture and install the South American Crossing system, part of Global's global system for data, voice, video and Internet transmissions.

UNITED AIRLINES is spending nearly $27 million to build a new cargo facility at Miami International Airport. The facility should open at the end of next year.

SONY CORPORATION OF AMERICA, together with two of its entertainment companies, Sony Music Entertainment and Sony Pictures Entertainment, bought an equity stake in yupi.com, a Spanish-language Web portal.

AMERICA ONLINE and Big Entertainment signed a multi-year agreement under which BigE's movie Web site, Hollywood.com, and its online studio store, BigE.com, will be placed on AOL Latin America--a joint venture between AOL and Venezuelan media conglomerate Cisneros Group. Under the terms of the deal, AOL and Cisneros Group will become shareholders in Florida-based Big Entertainment. By the end of this year, services from AOL and its CompuServe unit will be available in Latin America, beginning with Brazil, an Internet market with an estimated 2.2 million users. BigE.com and Hollywood.com content will be translated into Portuguese for the Brazilian market and into Spanish for subsequent launches in Mexico and Argentina and other parts of Latin America.

HAMBURG SUD, the German shipping company, bought Crowley American Transport's South American liner services, which includes trade lanes between the U.S. Atlantic and Gulf coasts and South America's East Coast, West Coast and Venezuela. Hamburg will operate the newly acquired routes separately from its Columbus Line and Alianca services.

IDT CORP, a U.S. telecommunications company, bought a 10% stake in the underwater cable project of Spain's Telefonica. The cable is expected to go into service next year and will connect the major Latin American and Caribbean cities with the United States.

PREVENTION, a U.S. health magazine, and Miami-based Ideas Publishing Group will publish a Spanish-language edition of the magazine, titled Prevention en Espanol. The magazine will be published monthly, beginning in November 1999 and distributed in the United States and 20 Latin American countries. Ideas Publishing Group also publishes Discover en Espanol, Glamour en Espanol, Newsweek en Espanol, and Teen en Espanol. Prevention is published by Rodale Press.
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Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Latin Trade
Date:Nov 1, 1999
Words:382
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