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Merger Could Challenge Home Shopping: QVC Network, a...

June 27, 1989

Merger Could Challenge Home Shopping: QVC Network, a fast-growing telemarketing company, offered to buy rival cable company CVN Cos. in a move that would create a powerhouse that could challenge Home Shopping Network's dominant position in the industry, analysts said. West Chester, Pa.-based QVC Network said it started talks to acquire CVN for $21 a share, valuing the Minneapolis-based company at $367.5 million. The combined companies would boast sales of nearly $800 million and compete with Home Shopping Network by marketing higher-priced products from such companies as Campeau Corp.'s Bloomingdale's and Lands' End, analysts said.

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