Universal Electronics Extends MediaOne Pact

Universal Electronics Inc., a Cypress remote-control maker, said Monday that it won a contract to supply all of cable giant MediaOne Group’s regions with remote controls through September 2001. Universal said MediaOne expects to buy a minimum of 1.5 million remote controls annually.

The contract, the terms of which were not disclosed, extends a pact first signed between the two companies in 1997. Universal shares fell 63 cents, to $14.06, in Nasdaq trading.