NYNEX increases focus on emerging markets - creates Asia Communications Group
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NEW YORK -- NYNEX (NYSE:NYN) announced today the creation of a new business group -- NYNEX Asia Communications Group -- to focus its resources and build on its success in the worlds most explosive growth market for communications services.
At the same time, NYNEX also said it is expanding its Worldwide Services Group, and renaming it the Worldwide Communications and Media Group, to concentrate its resources on opportunities in emerging high-growth media and information services markets.
The president of NYNEX Asia Communications will be Arthur J. Troy, chief operating officer of TelecomAsia, NYNEXs joint venture in Thailand. He will report to Frederic V. Salerno, NYNEX vice chairman - Finance and Business Development.
Richard W. Blackburn, president and group executive of NYNEX Worldwide Communications and Media Group, adds responsibilities for wireless cable television and for entertainment and information services. He will continue to have responsibility for NYNEX CableComms, the corporations cable television and communications subsidiary in the United Kingdom, as well as wireless, publishing and international operations.
With these changes, NYNEX is aligning itself more closely with its future strengths and market opportunities, and positioning itself to succeed in a global, digital media environment, said Ivan Seidenberg, NYNEX chairman and chief executive officer.
Seidenberg noted that Asia -- with three of the worlds most populous nations having less than one telephone line per 100 people -- is the highest-potential telecommunications growth region in the world, and that NYNEX is already a major player in the region, with partnerships and joint ventures building a total of nearly 3 million lines in Thailand, the Philippines and Indonesia.
NYNEX is pursuing a high-growth strategy in Asia, and our new business group will enable us to focus the resources and leadership attention necessary to achieve the extraordinary promise and full value of our investments there, he said.
Fred Salerno has been the architect of our strategy and our relationships in the region, and Art Troy has turned TelecomAsias commitments into reality. They will make a first-class team.
Seidenberg noted that NYNEX also has numerous opportunities in emerging industries -- notably cable television, entertainment and information services, and wireless communications -- and that reorienting NYNEXs Worldwide group will ensure that the corporations assets and relationships with its numerous new partners will be most effectively managed.
The Worldwide Communications and Media Group will bring together media businesses -- NYNEX Entertainment and Information Services, NYNEX CableComms (its United Kingdom cable TV and telecommunications subsidiary), and NYNEXs interest in wireless TV provider CAI -- with information and entertainment providers, including NYNEX Information Resources Company, and NYNEXs strategic relationships with Viacom and TELE-TV.
The expanded Group also will unify NYNEXs wireless communications interests -- Bell Atlantic NYNEX Mobile, NYNEXs Greek cellular partnership in STET Hellas, and its national alliances with Bell Atlantic, AirTouch and US West in two companies called PCS PrimeCo and Tomcom. The Group will continue to include NYNEXs communications operations outside of Asia and the United States, including FLAG (Fiberoptic Link Around The Globe), which is building the worlds longest undersea fiber optic cable.
NYNEX provides a full range of communications services in the northeastern United States and selected markets around the world, including the United Kingdom, Thailand, Gibraltar, Greece, Indonesia, the Philippines, Poland and the Czech Republic. The company has expertise in telecommunications, cable television, directory publishing, video entertainment, and information network and delivery services.
NOTE: descriptions of NYNEX Asia Communications and NYNEX Worldwide Communications and Media Group follow.
NYNEX Asia Communications
NYNEX is a major communications provider in Asia, with joint ventures in Thailand, Indonesia and the Philippines, as well as under Asian seas:
Thailand: through TelecomAsia, its joint venture with the Charoen Pokphand (CP) Group, one of Thailand's largest conglomerates, NYNEX is constructing and operating a 2 million-line telecommunications network -- the size of Manhattans. TelecomAsia also has received government approval to build an additional 600,000 lines. A TelecomAsia subsidiary also is providing cable TV services in Bangkok over its fiber backbone network.
Indonesia: NYNEX is a partner in network construction projects building more than 200,000 lines and providing network monitoring and management systems.
The Philippines: NYNEX and its partners in Bayan Telecommunications Holdings Corp. hold licenses to install a minimum of 300,000 telephone lines in metropolitan Manila and the Philippines provinces.
NYNEX also is the managing sponsor of FLAG (Fiberoptic Link Around the Globe), a worldwide project with particular value to Asia. FLAG will link Japan, China, Hong Kong, India and Thailand with landing points in the Middle East and Europe. NYNEXs co-sponsors in FLAG are from Japan, Thailand, Hong Kong, Saudi Arabia, and the United States.
NYNEX Worldwide Communications & Media Group
NYNEXs Worldwide Communications and Media Group concentrates NYNEXs business units, partnerships and alliances in worldwide media and communications. Business units and relationships include:
Cellular: Bell Atlantic NYNEX Mobile (East Coast cellular joint venture); PCS PrimeCo and Tomcom (national PCS and cellular alliances with Bell Atlantic, AirTouch and US West); STET Hellas (Greek partnership with Italian conglomerate STET).
Entertainment and information services: NYNEX Entertainment and Information Services; NYNEX Information Resources Company (domestic and international directory and multimedia publishing); TELE-TV (strategic alliance with Pacific Telesis and Bell Atlantic); Viacom (strategic relationship).
Worldwide communications, including cable TV: NYNEX CableComms (UK cable TV and telecommunications subsidiary); CAI (joint interest with Bell Atlantic in wireless TV provider); FLAG (Fiberoptic Link Around the Globe) (undersea fiber optic cable); and Gibraltar NYNEX Communications.
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.