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NYNEX SPELL OUT VIACOMM INVESTMENT

Nynex Corp chairman William Ferguson comments that the feverish cable-telephone merger activity of recent weeks indicates the world is catching up to the realities of technology and the marketplace, but insists that Nynex’s planned $1,200m investment in Viacom Inc is still the best move for getting the New York and New England phone company into the US cable industry – but he did not rule out the possibility of Nynex making other initiatives in the cable television arena.

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