New business capitalizes on emerging field of digital audio technology.
Imagine enjoying radio and cable-TV broadcasts with CD fidelity in your own living room, even if you don't own a disc player. By splitting cable-TV wires in half, linking one end to the television and one to even the most rudimentary stereo, venture-backed Digital Planet (DP), a forward-looking Carson, Calif., company, has positioned itself to capitalize on the emerging field of digital audio technology. Setting its sights on the 57 million cable subscribers, as well as untold numbers of the currently uncabled, DP features 24-hour commercial-free original music programming, as well as stereo simulcasts of several movie channels and MTV and VH1. Marketing the service through cable-TV operators (who retain approximately 63% of DP's $8 to $10 monthly fee), chairman David Meister projects 600,000 subscribers and break-even by May 1993.