Published reports in the Friday edition of The Wall Street Journal and other publications stated that the three Baby Bells were working to shut down Tele-TV. The venture was originally formed to deliver video programming and, eventually, interactive TV.
Tele-TV said in its statement that it and its partners are "finalizing a 1997 business plan for Tele-TV focused on supporting the partners' digital television products. .|.|. Tele-TV and its partners are continuing to discuss the most efficient way to manage the work activity. Howard Stringer, chairman and CEO of Tele-TV, and Sandy Grushow, president of Tele-TV Media, continue under contract to Tele-TV.
Copyright December 1996, Crain Communications Inc.