The goal of the venture, announced Tuesday, is to create a national cable network to pipe a whole host of new services such as video on demand, multimedia and video telephone into the consumer's home.
"This alliance will revolutionize what is delivered over your telephone, your cable television and your computer," said Sprint chairman and chief executive William Esrey.
The services will be provided by an as-yet unnamed venture to be 40 percent owned and funded by Sprint, whose brand name it will use.
Tele-Communications Inc., the country's largest cable television firm, will own 30 percent and Comcast Corporation and Cox Cable will each own 15 percent.
No financial details were given, but the strategy is clear. The alliance is an assault on the well-protected home markets of each of the seven regional Bell operating companies.
By seeking further cable operating companies it will forge a powerful force in cable television. And by bidding for Personal Communications Systems licenses in December's Federal frequency auctions it will become a major wireless player too.
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