Joining the growing list of telephone and entertainment company allies, MCI Communications Corp. and News Corp. announced the creation of a new worldwide interactive development and distribution partnership. MCI chairman and CEO Bert Roberts and News Corp. chairman and CEO Rupert Murdoch announced they were joining forces to create and distribute information, education, and entertainment services to businesses and households around the globe.
While no final decisions have been made, Roberts said the initial project would be in the online information area and would start later this year. Projects currently under consideration are the creation of an interactive TV guide, an Internet marketplace with intelligent news agents, and an electronic mail featuring secure transactions.
The two companies will invest a combined total of $400 million. In addition, MCI will invest $2 billion in News Corp., a move that will give MCI chairman Roberts a seat on the News Corp. board of directors and make MCI the second-largest shareholder in the company.