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TV Shopping Network Closed

December 17, 1987|From Reuters

A Houston consumer electronics concern said it is terminating its shop-by-television operation, citing doubts about "whether the home shopping industry is viable into the 1990s."

Entertainment Marketing Inc. said it will terminate its Consumer Discount Network home shopping unit Dec. 21 to stem losses in the division.

While the division's sales grew rapidly in the first nine months of 1987 to $6.6 million from $721,591 the year before, losses grew even more quickly.

The division had a deficit of $6.1 million after taxes, including the $2.1 million cost of closing down, compared to a loss of $303,589 the year before.

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