Disney/ABC Cable Networks President Geraldine Laybourne resigned her post to form a new company. She said the new company will "develop online content and commerce sites that will be tied to complementary cable and network TV programming." The content will serve women's and children's markets, she added in a statement. Ms. Laybourne, 51, a former teacher, is credited with building Nickelodeon into a powerhouse in the children's TV programming arena before she left for Disney in February 1996. She was president, Nickelodeon/Nick at Nite from May 1989 to February 1993, at which time she become vice chairman of MTV Networks, the parent of Nickelodeon. ABC said it is taking an equity interest in Ms. Laybourne's new company.
Copyright May 1998, Crain Communications Inc.