USA Networks Inc., Barry Diller's media and electronic-retailing company, Tuesday reported a wider fourth-quarter loss as advertising sales declined at the company's cable television networks.
The company lost $49.4 million, or 13 cents a share, compared with a $32.9-million loss, or 9 cents, a year earlier.
Based largely on the success of USA's online retailing operations, revenue at the New York-based company was $1.35 billion.
"The ad market is exactly the way it was before, which is not good," said Diller, chairman of USA Networks.
In late December, USA Networks agreed to sell its entertainment assets--USA Network and the Sci-Fi Channel, as well as the company's television and film-production units--to Vivendi Universal for about $10.3 billion. Diller will be chief executive of Vivendi Universal Entertainment.
After the Vivendi Universal deal closes, USA Networks will be renamed USA Interactive and will include USA's online businesses, such as Ticketmaster Inc., Match .com and Citysearch Web sites. USA Networks also has agreed to buy travel service Expedia Inc.