Zing Systems, a Denver-based interactive TV system, has closed its doors. The company, which was backed by Tele-Communications Inc., Continental Cablevision, Comcast Corp. and others, had legal, managerial and financial problems and the service never officially launched. It had been running beta tests that allowed viewers to play along with game shows, sports and sitcoms and to interact with TV advertising. A Zing executive said the company had been waiting for additional funding, which apparently never materialized.
CKS going public
High-tech marketing company CKS Group, Cupertino, Calif., will hold its initial public stock offering Dec. 15. Underwritten by Goldman Sachs & Co., the offering will likely open in the $15 to $17 range, a CKS spokeswoman said. CKS had gross income of $18 million last year. Earlier this year, Interpublic Group of Cos. formed an alliance with the company.