April 16, 1993 |
On the Home Shopping Network, the story lines are as thin as an overworked credit card. About the only drama unfolding amid the endless parade of cut-rate merchandise offered to cable television viewers is whether perky hostess Erin Morrissey's enthusiasm will give out before the supply of pink cubic zirconia bracelets at $29.75 each. But from behind the scenes of the $1-billion-a-year merchant-of-the-air have come details of a continuing drama that sounds improbable even by TV movie standards.
August 30, 1994
* Market trends: AirTouch was the volume leader in Monday's trading. Elsewhere, QVC Inc., which produces home shopping programming, announced a second-quarter profit of $11.7 million on sales of $303.3 million, compared to a year-earlier profit of $13.3 million on sales of $262.4 million. The company attributed the 12% decline in profit to steep costs in expanding its service into Mexico and Britain.
November 14, 2003 |
Liberty Media Corp., the media investment company controlled by John Malone, said third-quarter profit rose 86% to $41 million after it bought QVC Inc., the biggest home-shopping television network. Net income of the Englewood, Colo.-based company increased to 2 cents a share from $22 million, or 1 cent, a year earlier. Revenue surged 72% to $905 million from $525 million. Shares fell 5 cents to $10.03 on the New York Stock Exchange.
August 3, 1996 |
Viacom Drops Antitrust Suit Against TCI: Viacom Inc. and Tele-Communications Inc. filed court papers agreeing to dismiss the strongly worded and much-publicized 1993 suit in the wake of TCI's acquisition of Viacom's cable systems, and a federal judge approved the dismissal. Details of the agreement were not immediately available. The suit had been mostly dormant for the last 18 months, and company executives had said they expected the suit to be dismissed once TCI's two-stage $2.
April 22, 1994
After a brief separation, former Paramount Communications Inc. Chairman Martin Davis is reuniting with Viacom Inc. chief Sumner Redstone. Davis was named Thursday to the board of Redstone's National Amusements Inc., the parent of Viacom, which recently bested QVC Inc. in a $10-billion takeover war for Paramount. Davis stepped down as head of Paramount last month after Viacom gained control of the company. Earlier this week, he announced he was forming Wellspring Associates Inc.
November 18, 1986
The Chicago-based retailer reported that it will give QVC Network Inc. exclusive rights to present selected Sears products on a televised home shopping program. Sears said it plans to offer a variety of products on the airwaves, including many that have not appeared in its stores or catalogues. The QVC Home Shopping program is scheduled to begin daily broadcasting by satellite on Nov. 24.
February 18, 1994
Rod Turner, president and chief executive of La Crescenta-based multimedia software firm Knowledge Adventure, has left the company. The firm's chairman and founder, Bill Gross, will assume Turner's duties on an interim basis. Turner, an experienced manager of high-growth companies whom Gross himself helped recruit last year, said he and Gross had fundamental disagreements about how to guide the fledgling educational software firm.