HOLLYWOOD POWER TRIO FORMS STUDIO WITH ABC

Hollywood's highest-profile alliancefound a deal made in heaven today, as the powerful entertainment company of Steven Spielberg,Jeffrey Katzenbergand David Geffen said they'd produce television programming with Capital Cities-ABC Inc. -- the only TV deal they say they'll sign. Cap Cities, the ABC network's parent company, and the Hollywood trio said each side would invest $100 million in the venture and will produce programming for all dayparts. When the three entertainment moguls joined forces last October no precise plans were revealed. Now, the seven-year deal will provide the new company with an outlet for at least some of their efforts. Plans are in the works for shows that will be distributed not only by the network, but also through cable and new media ventures.Post your opinion on theNew Mediabulletin board.