TRIBUNE COMPANY TO INVEST IN INSIGHT TELECAST
TRIBUNE COMPANY TO INVEST IN INSIGHT TELECAST CHICAGO, Jan. 23 /PRNewswire/ -- Tribune Company (NYSE: TRB) today
announced that it has made a minority investment in InSight Telecast, Inc., developer of a unique, new interactive subscription television listing service that facilitates television program selection and simplifies home VCR-recording. Financial terms of the agreement were not disclosed.
The InSight system features an interactive, on-screen television guide that allows subscribers to access program schedule information from the current moment to seven days in the future. InSight provides program information by start time, by program title, by channel, or by genre (such as sports, movies, children's programming or news), enabling viewers to search for programming according to their own priorities. This system also offers detailed descriptions of individual programs. Other attributes of the system include offering the viewer the ability to tape on a VCR any of the programs listed -- whether current or future -- with the simple push of one button. The InSight system will be received by specially equipped television sets, cable converter boxes, VCRs, satellite disk decoders or stand-alone set-top boxes. "We have a very high regard for InSight's management and look forward to participating in the company's growth," Scott C. Smith, senior vice president/development said. "This unique and exciting new service will become particularly valuable as the number of cable channels serving each home increases." Tribune Company joins InSight's team of corporate partners involved in the product's development and launch: Viacom International, Spelling Entertainment, Public Broadcasting Service and Sumitomo. Tribune Company is a leading information and entertainment company. It publishes seven daily newspapers; operates six television and four radio stations; produces and syndicates information and programming; and manufactures newsprint. InSight Telecast expects to announce its launch plans in the near future. The company is based in Palo Alto, Calif. It was incorporated in 1986. -0- 1/23/92 /CONTACT: Martha O. Lindeman of Tribune Company, 312-222-3787, or at home, 708-848-2738/ (TRB) CO: Tribune Company; InSight Telecast, Inc. ST: Illinois, California IN: PUB ENT SU: FC -- NY101 -- 3036 01/23/92 17:15 EST
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|Date:||Jan 23, 1992|
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