Nynex, Viacom to Collaborate on New Interactive Products
Nynex Corp. and Viacom Inc. said Wednesday that they will jointly develop interactive entertainment products in the United States and Britain in their first collaboration since the takeover of Paramount Communications Inc.
Nynex and Viacom plan to develop video-on-demand services using the extensive libraries of film and television programming controlled by Viacom and Paramount.
The companies will also work together to create interactive versions of Viacom’s cable networks, which include MTV, Nickelodeon and VH-1.
Additionally, Nynex and Viacom plan to develop interactive multiple-player games that would be delivered over the Nynex broad-band network.
The companies originally joined forces during Viacom’s recent successful bid to acquire Paramount. Nynex contributed $1.2 billion to the Viacom war chest during the entertainment company’s battle with QVC Inc.
“With this first series of joint projects, we will dramatically enhance our understanding of consumer interest in advanced television services . . . and begin to realize the promise of new areas of business, escalating the delivery of software from Viacom, including Paramount, around the world,” said Frank J. Biondi Jr., Viacom’s president and chief executive.
Viacom Class A shares jumped $1.375 to $27.375 on the Amex, while Nynex added 37.5 cents to $37.25 on the NYSE.
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