BIZ WATCH: May 12, 1997

TIME WARNER'S BIG TURNOFF

It may have been the most expensive pizza-delivery system ever invented. Last week media giant Time Warner (TIME's parent company) announced that it was pulling the plug on its ambitious two-way cable-TV project, the Full Service Network, launched in Orlando, Fla., in 1994. At that time then ceo Gerald Levin predicted FSN would be "a medium for providing people with unprecedented access to information and entertainment." With just a remote, subscribers could scan countless TV channels, bring up movies on demand, shop at home or order a pizza.

Levin was half right. Consumers are very interested in...

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