TS News - Silver King To Aquire HSN
From: email@example.com (Martyn Williams)
Date: Wed, 28 Aug 1996 11:38:32 +0900
From firstname.lastname@example.org Tue Aug 27 22: 52:04 1996
TELE-satellit News, 28 August 1996
Silver King To Aquire Home Shopping Network
NEW YORK, New York, USA, 96/08/28 (SHOPTALK) -- Barry Diller's Silver King
Communications Inc. agreed this week to acquire Home Shopping Network Inc.
in a stock exchange valued at $1.27 billion. The deal, which gives Silver
King an 80.1% stake in HSN, solidifies Diller's control over the
home-shopping channel and supersedes a previously announced deal that would
have given him only 40%.
The acquisition of HSN by Silver King reunites the two companies, which
split apart four years ago in an attempt to draw investors for the shopping
channel. The combined assets of the companies include Internet shopping,
digital video technology and a stable of television stations, including a
group of VHF Fox stations in four major markets. The transaction is still
subject to approval by the Federal Communications Commission. (Wall Street
By: Don Fitzpatrick
Source: Shoptalk, http://www.tvspy.com
(c)TELE-satellit 1996. All rights reserved.
[Other mailing list archives]