Sign up for our newsletter
Technology / AI and automation

UNIVERSAL STUDIOS AND HSN TO FORM MULTIMEDIA COMPANY

Seagram Company Ltd’s Universal Studios Inc is to swap its TV operations with the Home Shopping Network Inc, in return for 45% of HSN’s stock. As a result the pair will form a new multimedia company, USA Networks, and each will have a 50% holding. The new company is to be a communications powerhouse with 25 Television channels, three cable television networks, a 49.6% stake in the electronic commerce firm Ticketmaster Group Inc, and the Internet Shopping Networks. The deal is subject to stockholder approval in early 1998, and Universal will not be allowed to extend its 45% stake in HSN for 4 years.

White papers from our partners


This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

CBR Online legacy content.