Communications: PBS Plugs in to Computers

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For at least two years the Public Broadcasting Service has searched for a way to use a hidden portion of its television signal for a moneymaking purpose so that it could compensate for dwindling financial support from the Government. Last week PBS announced a venture that could provide a vital source of income. The broadcasting service plans to join with IBM and Merrill Lynch to send out stock quotations and financial news that customers can view on IBM-compatible personal computers. IBM and Merrill Lynch will pay the start-up costs of the service.

PBS will send the data by satellite to its member stations, which will broadcast the information to consumers on the unused portion of the television signal. Subscribers will be given decoding devices that will convey the data from a TV antenna or cable to the personal computer. The service, to begin by the end of the year, will be available from 8 a.m. to midnight on weekdays and noon to 11 p.m. on weekends. PBS has not yet disclosed how much it will charge. The primary clientele will be financial managers, including Merrill Lynch's broker network. The broadcast signal will be available to an estimated 96% of the U.S. population.