Taking Stock At Home Shopping NetworkBy
Nearly all year, the specter of Barry Diller has hovered over Home Shopping Network Inc. It has not been a comforting presence. First, there was HSN's agreement to launch a shop-at-home service in Britain with British Sky Broadcasting. Diller scuttled the deal in June by negotiating a pact with Sky for his QVC Network instead. Then came the merger. On July 12, Diller announced that QVC would acquire HSN in a stock swap worth $1.1 billion. Now that plan, too, is off--superseded by Diller's bid for Paramount Communications Inc.
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