Nynex Announces Plan to Offer Fiber-Optic Cable TV Services : Telecommunications: The company is counting on Congress passing a law allowing Baby Bells to provide cable TV in their own regions.

Nynex Corp., scored by critics as a sitting duck for competitors, signaled Thursday that it plans to strike back, extending its extensive fiber-optic network into customers’ homes.

Nynex Chief Executive William Ferguson said the company would begin building the communications infrastructure it needs to offer cable television services to its Northeastern phone customers.

Although federal regulations bar regional phone companies from providing cable TV in their own regions, Congress is considering legislation that would free up the Bell companies, and Nynex is counting on such a bill passing.

Nynex’s announcement comes on the heels of similar announcements from Pacific Telesis and U.S. West, both of which plan networks that would enable customers to get any movie, any time, as well as an array of other services from interactive shopping to education.

Nynex is under pressure to act because of challengers on its own turf. U.S. West and Time Warner, for example, plan cable and phone services in competition with Nynex. Nynex has invested $1.2 billion in cable TV company Viacom Inc., which is locked in a $10-billion struggle against QVC Network Inc. to acquire Paramount Communications Inc.

Nynex Vice Chairman Ivan Seidenberg estimated the cost of building the new network at $1,400 to $1,800 per access line or home. Since Nynex has 15.7 million lines, upgrading all lines could cost $28 billion.

Nynex is already a leader in installing the high-capacity fiber-optic lines necessary to carry video along with phone service.

The White Plains, N.Y.-based company, which serves lucrative New York and New England markets, also said it was merging its various subsidiaries under the Nynex banner. The company said 350 to 400 jobs will be lost as a result of bringing the subsidiaries under one roof.