For years Europe's television offerings have read like a page out of TV Guide: Dallas, Miami Vice, Sesame Street, L.A. Law, even such oldies as I Love Lucy. American-made shows account for some 70% of the Continent's programming. Last week, however, the European Community took a step toward reclaiming its prime time from the foreigners. The twelve-nation E.C. adopted rules, to take effect in 1990, calling on its networks to broadcast a majority of European-made entertainment programs.
At stake is not just cultural pride but also megabucks: by 1998 European broadcasters will purchase an estimated $4 billion in programs. U.S. exporters,...