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CNN LIVE AT DAYBREAK

Video Game Awards: Spike TV Lines Up Big Sponsors

Aired October 20, 2003 - 06:47   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

CAROL COSTELLO, CNN ANCHOR: Time for a little 'Business Buzz' now. Video gammers are getting more recognition and advertisers are cashing in.
Carrie Lee live at the Nasdaq market site with more.

Good morning -- Carrie.

CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Good morning again, Carol.

Any doubt that video games have hit the mainstream could vanish later this year when Spike TV televises the industry's first video game awards. Now the video game awards are set to air on December 4. Advertisers don't seem to be too concerned about awards associated with things like most addictive, best free-for-all carnage, other things I'm not sure I can say on television. The show is reportedly 90 percent sold out. Sponsors include GM, Taco Bell, Virgin Atlantic and Target. So a lot of people certainly tuning in for that, once again, on Spike TV on December 4.

Taking a look at the markets, looks like we could see a pretty flat open for stocks overall. Tech issues, though, could see a little bit of a higher open. That's what it's looking right like right now. We have heard from Citigroup reporting profits for the recent quarter. Profits actually came in a little higher than expected, 90 cents per share. Wall Street was looking for 85 cents. Sales came in at 19.4 billion right in line with expectations.

Carol, we are also waiting to hear from 3M, the maker of post it notes and scotch tape. Also in the Dow, we'll hear from a lot of other companies as the week continues reporting profits. Back to you.

COSTELLO: All right, Carrie Lee live from the Nasdaq market site this morning.

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