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August 12, 1993 | From Times Staff and Wire Reports
Home Shopping Network Chairman Resigns: Roy Speer, whose activities as head of the cable TV shopping channel have been under federal investigation, has been replaced by Robert Bennett, Liberty Media Corp. senior vice president and chief financial officer. Liberty Media is a controlling shareholder of Home Shopping Network Inc. and last month helped arrange a $1-billion merger with rival QVC Network Inc.
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BUSINESS
August 12, 1993 | From Times Staff and Wire Reports
Home Shopping Network Chairman Resigns: Roy Speer, whose activities as head of the cable TV shopping channel have been under federal investigation, has been replaced by Robert Bennett, Liberty Media Corp. senior vice president and chief financial officer. Liberty Media is a controlling shareholder of Home Shopping Network Inc. and last month helped arrange a $1-billion merger with rival QVC Network Inc.
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BUSINESS
December 29, 1992 | From Bloomberg Business News
Home Shopping Network Inc. and its chairman, Roy Speer, have been sued by a shareholder alleging that Speer has improperly paid his own son at least $7.8 million in company funds. The suit, filed in federal court in Tampa, said the television retailer has been paying Richard Speer of Western Hemisphere Sales Inc., even though the computer-services agreement between the two companies expired in mid-1988.
BUSINESS
December 29, 1992 | From Bloomberg Business News
Home Shopping Network Inc. and its chairman, Roy Speer, have been sued by a shareholder alleging that Speer has improperly paid his own son at least $7.8 million in company funds. The suit, filed in federal court in Tampa, said the television retailer has been paying Richard Speer of Western Hemisphere Sales Inc., even though the computer-services agreement between the two companies expired in mid-1988.
BUSINESS
November 2, 1988 | Associated Press
In response to a year-old damage claim from Home Shopping Network, GTE Florida Inc. filed a countersuit Tuesday charging the cable shopping service and its two principal shareholders with business libel and slander. The counterclaim filed in Pinellas Circuit Court answers a $1.5-billion civil suit that HSN brought against the telephone company in September, 1987. Nando DiFilippo, HSN's executive vice president and general counsel, said the GTE counterclaim was without merit.
NEWS
April 16, 1993 | MIKE CLARY, SPECIAL TO THE TIMES
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.
BUSINESS
February 11, 1997 | Bloomberg News
David Geffen, the music executive who helped form DreamWorks SKG, acquired about 4% of the Class B common stock of HSN Inc. Geffen bought the shares, which have extra voting power, last week from an investment group that includes Roy Speer, the founder of Home Shopping Network Inc., according to records filed with the Securities and Exchange Commission. Geffen didn't disclose the price that he paid. HSN, based in St. Petersburg, Fla., was formed in December, when Silver King Communications Inc.
BUSINESS
November 2, 1988 | Associated Press
In response to a year-old damage claim from Home Shopping Network, GTE Florida Inc. filed a countersuit Tuesday charging the cable shopping service and its two principal shareholders with business libel and slander. The counterclaim filed in Pinellas Circuit Court answers a $1.5-billion civil suit that HSN brought against the telephone company in September, 1987. Nando DiFilippo, HSN's executive vice president and general counsel, said the GTE counterclaim was without merit.
BUSINESS
August 27, 1996 | TOM PETRUNO
Home Shopping Network was one of the hottest new stock offerings of the 1980s--the Netscape Communications of its day. Home Shopping raised $36 million in its initial stock offering in May 1986, only to see the company's market value balloon to $4 billion by early 1987 on wild projections about the earnings prospects of the business. The stock, adjusted for splits, rocketed from $3 at the offering price to a peak of $47 in 1987, a nearly sixteenfold increase.
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