December 29, 2000 |
USA Networks Inc. took a 9.9% stake in online travel agent TravelNow.com Inc. and signaled that its subsidiary is considering acquiring the Internet company. USA Networks, a New York-based media company, and its subsidiary, Hotel Reservations Network Inc., reported to the Securities and Exchange Commission on Thursday that they purchased 1.1 million shares in the Internet company for about $3.2 million. HRN is a profitable broker of hotel rooms, primarily over the Internet.
December 8, 2000 |
Barry Diller's USA Networks Inc. continues to insist that it pulled the plug on the TV production of "Who Killed Sue Snow?" in the name of social responsibility. Denying it bowed to pressure from drug company advertisers, USA says a docudrama about two cyanide-laced-Excedrin deaths in 1986 could have inspired a copycat crime. As USA spokesman Ron Sato said: "We don't have to worry about a crazy individual finding the subject matter much too compelling for our comfort."
December 6, 2000 |
Bowing to recent pressure from a major pharmaceutical advertiser, USA Network took the highly unusual step of canceling the production of a television movie about two highly publicized drug-tampering deaths. The cable network abruptly pulled the plug on "Who Killed Sue Snow?" on Thanksgiving eve, five days before filming was to begin in Vancouver, Canada. The movie was based on the 1986 deaths of two Seattle-area residents who took cyanide-laced Excedrin.
December 6, 2000 |
USA Networks Inc. plans to sell or form a joint venture for its 13 TV stations by Jan. 1, ending speculation USA might acquire other companies to bolster the station group, which some financial analysts consider untenable on its own. USA Chief Executive Barry Diller told reporters and investors about his intentions for the group of mostly UHF stations during an investor conference Monday in New York, said USA Networks spokeswoman Adrienne Becker.
November 22, 2000 |
USA Networks said Tuesday that it will combine its Ticketmaster Corp. unit with its Internet cousin Ticketmaster Online-CitySearch in a deal that underscores the increasing overlap between online businesses and their real-world counterparts. Ticketmaster and Ticketmaster Online were split in August 1998, when investors were clamoring for "dot-com" stocks and companies were anxiously spinning off their Internet operations to cash in on the frenzy.
October 27, 2000 |
USA Networks Inc., Barry Diller's cable company that operates Home Shopping Network and ticket agency Ticketmaster, said Thursday its third-quarter operating loss per share widened even as revenue rose. On a per-share basis, its pro forma loss, excluding one-time charges and nonoperating gains, widened to 10 cents a share, contrasted with 8 cents a share a year earlier. Cash flow as measured by total pro forma earnings before income tax, depreciation and amortization grew to $159.
July 27, 2000 |
USA Networks Inc., Hollywood mogul Barry Diller's media and electronic-commerce company, said its second-quarter loss was smaller than expected, helped by higher advertising sales at its cable-TV networks. The loss from operations narrowed to $21.8 million, or 7 cents a share, from $27.9 million, or 8 cents, in the year-ago period, after adjustment for acquisitions and other items. The firm had been expected to lose 15 cents a share, according to First Call/Thomson Financial.
June 28, 2000 |
World Wrestling Federation Entertainment Inc. said Tuesday it won a contract dispute to jump from USA Networks to Viacom Inc.'s CBS unit. Delaware Chancery Court Judge William Chandler III ruled that USA Networks didn't properly match Viacom's offer of at least $12.6 million for the rights to the WWF top-rated cable television shows, the company said.
June 27, 2000 |
Barry Diller is struggling to be a Francophile, but it's not clear whether the beret fits. The proposed purchase of Seagram Co., the largest owner of his USA Networks Inc., by French media and utility giant Vivendi could free Diller from the overly protective Seagram, which has restricted his growth. Vivendi may allow Diller to make some big purchases and become the A-list media player he has yearned to be.
June 22, 2000 |
After less than two years on the job, Barry Baker resigned Wednesday as the second-in-command to Barry Diller at USA Networks Inc., which owns a television station group, the Home Shopping Network, USA Network, Ticketmaster and several online businesses. The timing of the departure, just 18 months after Baker joined the company, surprised even the USA managers who report to him.