Company Town

* Cable TV: Billionaire Paul Allen is making a large minority investment in C/Net: The Computer Network, a proposed cable channel on computers, on-line services, video games and interactive services. The network, which some describe as an MTV-style channel for cyberspace, is scheduled for launch in the first part of 1995, with an on-line service to start simultaneously. C/Net plans to provide entertainment programming and consumer information about interactive services. Allen’s Vulcan Venture will have two seats out of an expected seven on the C/Net board. The channel was founded by Halsey Minor, who previously founded a computer-oriented publishing company, and Kevin Wendle, a former Fox Entertainment executive vice president. Allen made his fortune founding computer software giant Microsoft with Bill Gates and has such investments as an 80% stake in Ticketmaster. The amount of his C/Net investment was not disclosed.