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Watching the Road: Wheels TV Will Hit the Air in Early 2004
Aired September 30, 2003 - 06:16 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time now, though, for a little business buzz. Automobile enthusiasts could soon be spinning their wheels over a new television channel.
Carrie Lee has more live from the Nasdaq market site.
And, Carrie, this sounds like Chad's dream.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: A lot of dreams for men, some women as well, Carol. Wheels TV peals onto the airwaves in early 2004 with original, as well as acquired, programming dedicated to everything auto, and this includes trucks and motorcycles, too.
Now this is going to be a 24-hour cable channel covering topics including technology, history and traffic. Also, Wheels TV is then going -- is going to feature some international auto shows, classic movies, manufactured sponsored programming, also some daily news segments. Some of the show titles so far, "Wild About Wheels," "Muscle Car Crazies," "Import Tuner" and "Auto Biography (ph)."
Now the product aims to be in five to six million homes when it launches, but says that depending on how many cable systems will carry it, the number may vary a little bit. And by the way, Wheels TV won't be the same type of channel as say Fox Network's Speed Channel, which focuses mainly on racing. So sort of broadening out the idea a little bit.
Quick check on Wall Street this morning, futures look very weak. Looks like we could see some selling after a pretty decent late day rally yesterday. The Dow ended higher by about seven tenths of 1 percent gaining 67 points. The Nasdaq up 32 points and that's a gain of about 1.8 percent.
One name we're going to be watching today very closely, Sun Microsystems, saying that for the recent quarter the company now expects wider losses than earlier anticipated. They are also taking a charge worth at least $1 billion. Carol, shares lost about 10 percent in the after-hours trading market last night. So could lose some ground today. We'll see.
COSTELLO: Ouch. All right, Carrie Lee, we'll get back to you in the next half hour, many thanks.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
2004>
Aired September 30, 2003 - 06:16 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time now, though, for a little business buzz. Automobile enthusiasts could soon be spinning their wheels over a new television channel.
Carrie Lee has more live from the Nasdaq market site.
And, Carrie, this sounds like Chad's dream.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: A lot of dreams for men, some women as well, Carol. Wheels TV peals onto the airwaves in early 2004 with original, as well as acquired, programming dedicated to everything auto, and this includes trucks and motorcycles, too.
Now this is going to be a 24-hour cable channel covering topics including technology, history and traffic. Also, Wheels TV is then going -- is going to feature some international auto shows, classic movies, manufactured sponsored programming, also some daily news segments. Some of the show titles so far, "Wild About Wheels," "Muscle Car Crazies," "Import Tuner" and "Auto Biography (ph)."
Now the product aims to be in five to six million homes when it launches, but says that depending on how many cable systems will carry it, the number may vary a little bit. And by the way, Wheels TV won't be the same type of channel as say Fox Network's Speed Channel, which focuses mainly on racing. So sort of broadening out the idea a little bit.
Quick check on Wall Street this morning, futures look very weak. Looks like we could see some selling after a pretty decent late day rally yesterday. The Dow ended higher by about seven tenths of 1 percent gaining 67 points. The Nasdaq up 32 points and that's a gain of about 1.8 percent.
One name we're going to be watching today very closely, Sun Microsystems, saying that for the recent quarter the company now expects wider losses than earlier anticipated. They are also taking a charge worth at least $1 billion. Carol, shares lost about 10 percent in the after-hours trading market last night. So could lose some ground today. We'll see.
COSTELLO: Ouch. All right, Carrie Lee, we'll get back to you in the next half hour, many thanks.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
2004>
