Southwestern Bell, the US regional telecomms group, yesterday announced it was abandoning a plan to form a $4.9bn cable TV partnership with Cox Enterprises the privately-owned media group. This is the second large link-up between a US cable company and a telephone group to be abandoned this year. Bell Atlantic and Tele-Communications Inc. dropped their merger plans in February. The reason given in both cases is increasing federal government regulation of the cable industry’s finances. The failure of these deals is seen as a setback to the growth of multimedia interactive communications services.
PEARSON INVESTS IN MULTIMEDIA
Pearson has made a £312m agreed bid for the US consumer software publisher The Software Toolworks. The move is seen as confirmation of Pearson’s plans to expand into multimedia.
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