TS News - Alcatel-Alsthom Sells Stake In Euronews

TELE-satellit News, 25 November 1996

Alcatel-Alsthom Sells Stake In Euronews
  PARIS, France, 96/11/25 (SatND/TS) -- French company Alcatel-Alsthom has
confirmed it will sell a 49 percent stake it holds in the ailing
multilingual news channel Euronews. Originally founded and operated by
European public broadcasters, Euronews sold 49 percent of its operating
company's capital to Alcatel-Alsthom's unit Générale Occidentale back in
May 1995.

  Alcatel-Alsthom said the sale will help the company concentrate on its
core business. Euronews president Jose Vila Abello expects the Alcatel
stake to be taken over by "two or three French or European" buyers,
reported France's Les Echos.

  Euronews was originally intended to become a major force in European news
with the assistance of Europe's public broadcasters, members of the EBU. It
suffered its first set-back when several prominent broadcasters, including
the BBC, backed out of the project. Euronews has no presenters offering
news in pictures with multi-lingual sound channels available.

  By: Peter Klanowski
(c)TELE-satellit 1996. All rights reserved.

[Other mailing list archives]