*Spotlight on Nynex Corp.: With more than...
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*Spotlight on Nynex Corp.: With more than 81,000 employees, the New York-based company is the fourth-largest of the seven Baby Bells when measured by phone lines offered. Commenting on the company’s upcoming challenges, analyst William N. Deatherage at S.G. Warburg & Co. said: “Their service region is the most vulnerable in the country to competition because of its density and high concentration of businesses. They have essentially gone after the low-hanging fruit in the past, and that’s not good enough for the future--where competition will increase from cable and other telecommunications providers.”
Major Properties
*Telephone: Operates 16 million phone lines serving seven Northeastern states
*Wireless: Serves more than 500,000 cellular customers
*Other holdings: Nynex Cablecomms, the largest combined cable and telephone provider in Britain
Financial Data
*Market capitalization: $17.2 billion
*Cash: $88.9 million
*Long-term debt: $7.0 billion
*1992 revenue: $13.2 billion
*1992 profit: $1.3 billion
*Earnings per share: $6.40
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