Short Reports

Thu., Nov. 4, 1999

From Staff

America Online Inc., the world’s largest Internet service provider, will invest $30 million in Blockbuster Inc. to develop the video store’s new Internet site and develop high-speed Internet services. The investment is part of a three-year marketing alliance between AOL and the Dallas-based Blockbuster.

Packard Bell NEC Inc., once a leader in the home PC market, has become the industry’s latest casualty as consumers snap up cheaper offerings from competitors and turn their backs on a company with perceived quality problems. The Packard Bell name and 1,600 jobs will cease to exist in the United States by the end of the year after the Sacramento-based company failed to meet performance goals set by its Tokyo-based parent, NEC Corp., spokesman Ron Fuchs said Wednesday.

Five months after the abrupt departure of Lou Dobbs as head of CNN’s business news coverage, Shelby Coffey III was named Wednesday as his replacement. Coffey, who has been executive vice president of ABC News since June 1998, becomes president of CNN Business News and CNNfn, the financial news network.

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Short Reports

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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