BellSouth nears deal in QVC bidThe BellSouth Corp. is...

BUSINESS DIGEST

November 05, 1993

BellSouth nears deal in QVC bid

The BellSouth Corp. is close to signing a deal to invest in QVC Network Inc.'s bid for Paramount Communications Inc., two executives with knowledge of the discussions said yesterday.

BellSouth is expected to put up at least $2 billion, and perhaps more, these executives said.

For several weeks, BellSouth, the regional telephone company based in Atlanta, has been mulling over ways to get involved in the bidding for Paramount. It has considered a solo bid and has also held discussions with QVC and with Viacom Inc., the entertainment company that Paramount has selected as its merger partner in a friendly $9.5 billion deal.

Executives' confidence edges up

Business executives' confidence in the economy improved slightly in October but remained well below the peak reached last December, the U.S. Chamber of Commerce said yesterday.

The index, reported every other month, was 46.4 in October, up from 45.6 in August. But that was still well below the 62.4 reached in December and February.

PSC OKs taxi permit transfer

The Maryland Public Service Commission has approved the transfer of 76 taxi permits from Sun Cab Co. Inc. to Yellow Transportation Inc., ending 63 years of taxi operation by Sun Cab in Baltimore. The new owner will continue to use the Sun name and telephone number.

Since Monday, calls to the Sun number have been routed to Yellow Transportation, and Sun, Yellow or Checker cabs have been dispatched to respond, a Yellow spokesman said.

Boeing developing fighter plane

Boeing Co. is pursuing a new military jet that could put it back in the fighter plane business for the first time in almost 60 years, company officials said yesterday.

Boeing's lightweight, low-cost airplane would be able to perform conventional takeoffs and landings for the Air Force, vertical operations for the Navy and Marine Corps and aircraft carrier flight missions for the Navy. Company officials said any order, for which Boeing would compete against Lockheed Corp. and McDonnell Douglas Corp., would be at least a decade off.

Souped-up Atari machine unveiled

Atari Corp., the inventor of the first video game, rolled out yesterday a powerful 64-bit games machine called Jaguar, which is meant to grab market share from the Japanese companies that now dominate video games.

The machines will retail for $249, including one game cartridge, and 100 times as much screen data at one time as the now-common 16-bit games machines.

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