Financial Briefs

Revenue shot up and losses fell at Intl. Cablecasting Technologies Inc., as the music programming service built up its business. For the quarter ended Sept. 30, the company lost $ 4.7 million, or 15 cents a share, compared to a loss of $ 5.7 million, or 19 cents a share, in the like period a year ago.

Revenue was $ 1.7 million, up from $ 493,463. For the year, ICT lost $ 16.4 million, or 52 cents a share, compared to a net loss of $ 26.4 million, or 90 cents, in fiscal 1992. Revenue was $ 4.8 million, up from $ 773,861.

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Sega Channel has signed three cable operators to launch the videogame channel even before it completes a three month test. MetroVision in Atlanta, National Cable Television Cooperative in Lenexa, Kan., and Sammons Communications in Dallas each agreed to put Sega in its line-up next summer. Terms were not disclosed, though a Sega spokeswoman said that the company received a “standard premium rate channel contract.” The Sega Channel — a joint venture with Sega of America Inc., Tele-Communications Inc. and Time Warner Entertainment Co. — will allow subscribers to play video games through an adapter that hooks up to a cable converter box.

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American Telecasting Inc. completed its initial public offering of 3 million common shares at $ 18 each and acquired a group of wireless cable television systems in 11 markets Dec. 10. The offering was managed by Alex, Brown & Sons Inc., Bear, Stearns & Co. Inc. and Montgomery Securities.

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Marvel Entertainment Group Inc. Monday announced that multimedia entertainment entrepreneur Quincy Jones has joined its board of directors. Jones is CEO of Quincy Jones David Salzman Entertainment, a multimedia entertainment firm; chairman of Qwest Records; and president and CEO of Quincy Jones Prods.

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