DILLER WANTS TICKETMASTER; HSN BOSS ANNOUNCES BID OF $307.5 MILLION FOR THE OTHER HALF OF THE COMPANY.Byline: Dave McNary Daily News Staff Writer Media mogul Mogul: see Mughal. Barry Diller Barry Diller (born February 2, 1942 in San Francisco, California) is an American media executive responsible for the creation of Fox Broadcasting Company. Biography announced on Thursday a $307.5 million bid to buy the half of Los Angeles-based Ticketmaster Group Inc. he does not already own. The offer, made through Diller's HSN HSN Home Shopping Network HSN High Speed Network HSN Hereditary Sensory Neuropathy HSN Highly Saturated Nitrile HSN Healthy Schools Network, Inc. HSN Hopping Sequence Number HSN Historical Sample of the Netherlands HSN Haiti Support Network Inc., had been widely expected in the wake of his blockbuster announcement this week of a programming distribution partnership with Universal Studios' television business to launch a possible seventh national TV network. Ticketmaster officials said only that they will examine the bid. In Chicago, a class-action lawsuit to block the Ticketmaster-HSN deal was filed Thursday, alleging the transaction is unfair to shareholders. HSN bought almost half of Ticketmaster from Paul Allen
Paul Gardner Allen (born January 21, 1953 in Seattle, Washington) is an American entrepreneur. With Bill Gates, he formed Microsoft. , co-founder of Microsoft Corp., for $235.8 million in July and said that at some point it might buy the rest. ``Once that investment was made, it became likely that Diller would buy the rest,'' said Richard Read Richard Read (born 1957) is a Pulitzer Prize-winning American journalist. Born in St Andrews, Scotland and raised in Cambridge, Massachusetts, Read graduated from Amherst College in 1980 and worked for a Massachusetts crime commission before moving to Portland, Oregon to , an analyst with Arnhold & S. Bleichroeder. ``Why wait a couple of years while the stock becomes more expensive?'' Analysts have noted that an owner has significantly larger tax benefits once its stake reaches 80 percent. Ticketmaster shares fell $1.50 to $23.50 Thursday, and HSN shares dropped $2.43 to $44.57. HSN is offering Ticketmaster shareholders a choice of $25 a share in cash or swapping each share for 0.506 HSN shares, worth $22.55 each based on Thursday's closing price. HSN will combine the USA and Sci-Fi cable channels with Home Shopping Network “HSN” redirects here. For other uses, see HSN (disambiguation). The Home Shopping Network (HSN) is a mostly 24-hour shopping network that is seen on cable, satellite, and some terrestrial channels in the United States. , its 12 TV stations and its holding in Ticketmaster, the nation's largest concert-ticket distributor. Diller plans to launch a network of stations focused on local programming and may start a combined cable/broadcast network. Read said Ticketmaster, which has annual revenues of about $1 billion, is likely to be expanded, given the strong management capabilities of Diller and Ticketmaster Chairman Fred Rosen Fred Rosen (May 25, 1930 - May 21, 2005) was a paediatrician and immunologist at Harvard Medical School, Harvard Center for Blood Research, and Harvard Children's Hospital. He was also an expert in antique furniture. . |
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