February 10, 1999 |
Has media mogul Barry Diller single-handedly brought Internet stocks crashing down to Earth? That was the question Tuesday in the wake of Diller's audacious deal to merge Lycos, the fourth-ranked Internet Web site, with assets of his USA Networks, including Home Shopping Network, Ticketmaster and Ticketmaster Online-CitySearch Inc. Diller said the new USA/Lycos Interactive Networks would be one of the world's largest electronic commerce companies, with combined sales of $1.
February 9, 1999 |
In the latest endorsement of the potential of online retailing, Ticketmaster and Home Shopping Network are expected to merge with Web portal Lycos to create a $21.5-billion Internet powerhouse, sources said Monday. Media mogul Barry Diller, the architect of the deal, hopes that a venture combining one of the top portal sites on the Internet with his companies that excel at selling tickets and other merchandise will eventually become a shopping mecca for those surfing the Web.
February 8, 1998 |
The pen was mightier than the word when late-night television crossed the final shopping frontier early Saturday. Two Russian cosmonauts aboard the Mir space station, appearing live on the QVC shopping channel, set out to hawk the American-made $32.75 Fisher Space Pen, used on NASA spaceflights since 1967 because it can write in the absence of gravity.
January 21, 1998 |
Barry Diller received another big stock-option package from the media company he runs, as HSN Inc. granted him the right to acquire 4.75 million common shares through 2007. The package will generate about $292 million in profit for Diller if HSN shares appreciate 10% annually during the 10-year period, according to a proxy statement recently filed with the Securities and Exchange Commission. These figures assume Diller holds all of the options until 2007.
November 20, 1997 |
Lowell "Bud" Paxson, who made a name for himself as the co-founder of the Home Shopping Network, said Wednesday that he is trying to build a seventh national broadcast network that will target women with a slate of wholesome family programming. Paxson said that by the end of August 1998, his more than 70 UHF television stations will shift their emphasis from infomercials to network reruns of such shows as CBS' "Touched by an Angel" and "Dr Quinn: Medicine Woman."
November 12, 1997 |
CitySearch, the Pasadena firm that creates online city guides, has raised at least $34 million in new venture capital from Barry Diller's Home Shopping Network Inc. and other investors. HSN, of St. Petersburg, Fla., is the lead investor in the latest round of financing, which includes investment firms T. Rowe Price and Global Retail Partners, a group backed by Donaldson, Lufkin & Jenrette, Carrefour and Microsoft co-founder Paul Allen. Washington Post Co.
November 11, 1997 |
Home Shopping Network Inc. and Univision Communications Inc. are teaming up to form the Spanish Shopping Network, a television retailer targeting the Latino market. The network is scheduled to premiere early next year. Los Angeles-based Univision is the largest Spanish-language network in the U.S.
November 4, 1997 |
Barry Diller's surprise deal to control most of Universal Studios' television business continues to be a provocative topic in Hollywood. The decision by Seagram chief Edgar Bronfman Jr. to sell Universal's USA Network, Sci-Fi Network and its domestic TV production and distribution business to Diller's HSN Inc. in a deal valued at $4.1 billion is widely viewed as a smart, if highly perplexing, move.
November 1, 1997 |
Ticketmaster Group Inc. said it appointed a committee of two outside directors to consider an offer by HSN Inc. to buy the half of the company HSN doesn't own for $307.5 million in cash. The committee named to evaluate the $25-a-share offer will consist of Jonathan Dolgen, who also is an executive with Viacom Inc.'s Paramount Pictures studio, and Peter Barton, the former head of Tele-Communications Inc.'s Liberty Media Group. They will retain financial and legal advisors, the company said.