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NEWS
February 8, 1998 | From Times Staff and Wire Reports
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.
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BUSINESS
January 21, 1998 | From Bloomberg News
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.
BUSINESS
November 20, 1997 | SALLIE HOFMEISTER and JANE HALL, TIMES STAFF WRITERS
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."
BUSINESS
November 12, 1997 | KAREN KAPLAN, TIMES STAFF WRITER
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.
BUSINESS
November 11, 1997 | Associated Press
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.
BUSINESS
November 4, 1997 | CLAUDIA ELLER and SALLIE HOFMEISTER
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.
BUSINESS
November 1, 1997 | Bloomberg News
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.
BUSINESS
October 24, 1997 | MARLA MATZER
On the heels of Monday's announcement that it planned to buy most of Universal Studios' television operations for $4.08 billion, HSN on Thursday announced an offer to buy the half of Ticketmaster it doesn't already own, for $307.5 million in cash. Ticketmaster Chief Executive Fred Rosen said he expects Ticketmaster's board to meet next week to appoint an independent committee to review the proposal.
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