COMPANY TOWN ANNEX

Time Warner Announces Interactive Ventures: The media giant said it is forming a home shopping service in conjunction with CUC International, the nation’s largest telephone-based shopping operation, for its prototype cable network in Orlando, Fla. Time Warner Inc. also plans to offer video news on demand over the Orlando system, using the resources of Time Inc. publishing and New York 1 News, its 24-hour New York City news service. The news service will be run by Walter Isaacson, a Time magazine assistant managing editor, and Paul Sagan, Time Warner vice president. Both services are expected to begin in 1994.