Times Mirror gains Insight stake

Times Mirror Co. is getting into interactive cable television.

Its Times Mirror Cable Television unit, the nation’s 11th largest, is buying an estimated 5% stake in Insight Telecast Inc., creator of an onscreen TV guide that can also program a VCR.

The deal is just the most recent for Insight. In the last month, KBLCOM, the cable unit of Houston Industries, also snapped up 5.8%. The pair joins other investors, including Viacom Inc., Tribune Co., Spelling Entertainment Group, Sumitomo Corp. and the Public Broadcasting Service. With Times Mirror’s 1.2 million subscribers, Insight now boasts an estimated 3 million potential viewers.

Times Mirror Cable prez Larry Wangberg will join Insight’s board.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More TV News from Variety