BRIEF TRANSMISSIONS

Market Information, Inc. reports 1985 revenues of $8.735 million, up 27 per cent from 1984's $6.581 million. Figure comes from annual report of MII parent United Telecommunications, Inc., which reveals revenues, but not earnings, of subsidiaries. MII president Jim Taphorn admits increase did not come from commodity and futures quote business, nor from SPMI money market joint venture with Security Pacific Corp. He attributes it to growth in lucrative satellite-based private network services. Meanwhile, United Telecom reports fourth-quarter loss of $141.1 million on sales of $816.1 million. Company says principal cause is one-time charge of $175 million due to combination of its long-distance and datacom businesses with those of GTE.

Telerate, Inc. hopes to make company's Telerate Broadcast Service available in New York over FM sideband. Service is now delivered by Equatorial satellite, but "we want to make that available in New York City on [FM] SCA also," says president and chief executive officer Neil Hirsch. Plan is not related to pending launch of "Tele-trac" money market graphics terminal (MTR, January 1986), says Hirsch. "Part of Tele-trac could possibly be driven that way, but that's not the main purpose." Move to FM could free Telerate from constraints on rooftop real estate now associated with Equatorial dish. Firm already offers FM sideband service in New York using Lotus/Dataspeed hand-held receiver technology, which is too slow for 9600 bits/second Equatorial feed.

Reuters Holdings PLC and Instinet Corp. have signed definitive agreement on deal announced last year for Reuters to acquire 6.7 per cent of Instinet's common stock. Instinet will sell 400,000 common shares plus three-year warrants for an additional 1.2 million shares for $22.50/share. Total price is $10.9 million, of which $4.5 million is cash and balance is cash or Reuters shares, at Reuters's option. Full exercise of warrants would give Reuters 17.8 percent of Instinet on fully diluted basis, which, combined with exercise of warrants Reuters has agreed to obtain from other sources, would yield ownership stake of 27.8 per cent. Closing awaits approval of shareholders at April 23d annual meeting.

PC Quote, Inc. stock performance has been something to behold in recent weeks. Shares trading around 2 1/2 bid at year's end rose to 5 by mid-January and closed at 6 February 21st. Trading in week of February 17th totaled 162,000 shares -- out of 1.2 million on market. One company executive attributes action to institutional investors who've been pitched on quote system.

Financial Information Services Division of Information Industry Association plans four sessions at IIA Denver Midyear Conference May 19-21, says FISD executive director Bob Bartolotta. "New Technologies and Exchange Data" will focus on microcomputers, telecommunications, and their impact on data pricing. "Innovative Technologies in Financial Information Services" will cover expert systems, CD-ROM, and FM sideband. "Internationalization of World Securities Markets" will concentrate on intermarket linkages and the 24-hour trading day. "International Telecommunications" will focus on rates, tariffs, and how U.S. businesses deal with foreign PTTs.

Trans-Lux Corp. privately repurchased 160,702 shares from Michael Landes and Albert Schwartz, New York investors who recently acquired 9.9 per cent of company. Landes and Schwartz agreed not to directly or indirectly purchase Trans-Lux stock or join any proxy fights for period of ten years. Price tag was steep: $2.89 million, or $17.97/share. Landes and Schwartz had acquired stake during December 18th-January 15th at prices ranging from $12.96 to $16.11.

Reuters and London Stock Exchange have reached agreement for Reuters to distribute London's SEAQ quotations on international equities over its new contributor network in Europe. Deal calls for SEAQ quotes to be clearly identified, but allows Reuters option of including SEAQ data on its composite pages. Separately, Reuters, London Stock Exchange, and Instinet agreed to explore possible uses of Instinet system for exchange and its members.

Keytronic Corp., Spokane, says it received contract from Reuters to supply "several thousand" terminal products over three-year period. Deal is valued at between $3 and $8 million, and is thought to be for keyboards and possibly other components for Advanced Reuter Terminal (MTR, January 1986).