July 27, 1995
NYNEX CONTACT: Media Relations,
TELE-TV Announces Brian Steel as Joint Venture's Executive Vice President, Strategy and
NEW YORK -- Howard Stringer, Chairman and CEO of
TELE-TV, announced today the appointment of Brian Steel as Executive Vice
President, Strategy and Business Development of TELE-TV.
In his new role, Mr. Steel will report to Mr. Stringer and will have
overall responsibility for strategy formulation, business development, and
alliance management. He will be responsible for analyzing the entertainment,
media, and communications industries, and identifying attractive projects and
lines of business. He will also manage the structuring and negotiation of
acquisitions and joint venture opportunities.
TELE-TV is a new media and technology joint venture of Bell Atlantic,
NYNEX and Pacific Telesis. Creative Artists Agency (CAA) is a consultant to
the venture. Mr. Steel will serve as liaison with the partners.
In making the announcement, Mr. Stringer said: "Brian Steel played a
key role in creating the idea and the reality of TELE-TV. His insight, his
wisdom and broad knowledge, make him the ideal point man to propel our
partnership in its digital destiny."
Mr. Steel said: "I couldn't be more thrilled. It's rare to have the
opportunity to participate in the creation of a venture like TELE-TV. Then to be
fortunate enough to become part of the realization of the vision. In the spirit
of true interactive media, I will enjoy having some influence over how the movie
Mr. Steel joins TELE-TV from Pacific Telesis Group, where he served as
Vice President, Strategic Development, for the firm's video services unit,
Pacific Telesis Enhanced Services. As a key member of this business unit's
management team, he was responsible for establishing strategic frameworks, and
structuring the alliances and joint ventures that were essential to developing a
broad array of competitive services for the "communications superhighway."
With his leadership, Pacific Telesis took several vital steps into the
interactive multimedia information and entertainment industry, including the
creation of an electronic shopping and information service with Times Mirror,
the formation of TELE-TV, and the recent acquisition of Cross Country Wireless
in southern California.
Before joining Pacific Telesis, Mr. Steel was a principal and founding
partner of Conversion Management Associates (San Francisco), a consulting firm
with special expertise in public/private sector partnerships. Prior to founding
CMA in 1992, he concluded a ten-year career in commercial real estate, serving
as Senior Vice President, Real Estate Merchant Banking, Shearson Lehman Brothers
Inc. (New York), with responsibility for investment structuring and portfolio
Mr. Steel is a magna cum laude graduate, B.A. Economics, of Duke University,
which he attended as an Angier B. Duke Scholar. He is married with two children
and will be headquartered in the New York offices of TELE-TV.
TELE-TV is a new media joint venture of Bell Atlantic (NYSE: BEL), NYNEX
(NYSE: NYN), and Pacific Telesis Group (NYSE: PAC). TELE-TV will offer
nationally branded, traditional and interactive home entertainment, and
information services over its partners' wireline and wireless networks in
six of the nation's top seven markets.
NYNEX is a global communications and media company that provides
a full range of services in the northeastern United States and
high-growth markets around the world, including the United Kingdom,
Thailand, Gibraltar, Greece, Indonesia, the Philippines, Poland,
Slovakia and the Czech Republic.
The Corporation is a leader in the telecommunications, wireless communications,
cable television, directory publishing
and entertainment and information services.
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