Company Town

* TV: Financially strapped Interactive Network Inc. is getting some breathing room. Its strategic partners, including Tele-Communications Inc., NBC and new partner Motorola Inc., agreed to provide $50 million in new debt and equity financing. The San Jose company, which develops interactive television programming, said one part of the deal involves having TCI, NBC and Motorola provide about $20 million as a secured loan that can be converted into new Interactive preferred shares at $4 a share. The $20-million loan includes $1 million received Thursday--$500,000 from TCI and $250,000 each from NBC and Motorola. It also includes about $3.5 million that TCI previously advanced and another $250,000 from NBC. In documents filed Aug. 16 with the Securities and Exchange Commission, Interactive Network said it needed more money to support its operations and expand into additional markets, saying that “failure to obtain additional financing would require the company to significantly curtail or cease its operations.” In exchange for joining as a partner, Motorola gets the rights to making hardware based on the company’s technology.