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SILVER KING COMMUNICATIONS, INC. ANNOUNCES FOURTH QUARTER AND FISCAL YEAR RESULTS

 ST. PETERSBURG, Fla., Oct. 20 /PRNewswire/ -- Silver King Communications, Inc. (NASDAQ: SKTV) today announced its financial results for the quarter ended Aug. 31, 1993. Total revenues increased 5.2 percent, or $.5 million, to $11.6 million from $11.1 million in the quarter ending Aug. 31, 1993. For the fiscal year, total revenues decreased 1.3 percent, or $.6 million, to $46.2 million from $46.8 million. The decrease primarily results from lower sales at the company's video production unit, Telemation, Inc.
 For the fourth quarter of fiscal year 1993, SKTV had a net loss of ($.9) million, or ($.11) per share, compared to a net loss in the comparable quarter last fiscal year of ($3.7) million, or ($.43) per share. This improvement of $2.8 million, or 74.8 percent, represents $.32 per share or a 74.4 percent improvement on a per-share basis over the comparable quarter. For the fiscal year, SKTV had a net loss of ($6.4) million, or ($.72) per share, compared with a net loss of ($15.2) million, or ($1.74) per share, last fiscal year. Year-to-date this improvement of $8.8 million, or 58.0 percent, represents $1.02 per share or a 58.6 percent improvement on a per-share basis from last year's results.
 For the fourth quarter of fiscal year 1993, the company increased operating income before depreciation and amortization (EBITDA) $.3 million, or 5.8 percent, to $6.1 million from $5.8 million, and its net interest coverage improved to 2.12 times from 1.40 times. For the fiscal year, EBITDA declined $2.4 million, or 9.3 percent, to $23.6 million, from $26.0 million while net interest coverage increased to 2.00 times from 1.34 times. The primary reason for the improvement in the reported net loss and net interest coverage ratios was a reduction in the amount of funds borrowed and a lower interest rate compared to last year.
 SKTV owns and operates 12 independent full power UHF television broadcast stations that serve 8 of the 12 largest television markets in the United States, including New York, Los Angeles and Chicago, and have an audience reach in excess of 27.5 million households.
 SILVER KING COMMUNICATIONS, INC.
 FINANCIAL HIGHLIGHTS (UNAUDITED)
 Quarter Ended Fiscal Year Ended
 8/31/93 8/31/92 8/31/93 8/31/92
 (In thousands, except per share data)
 Revenues $ 11,634 $ 11,060 $ 46,197 $ 46,776
 Net Loss (943) (3,742) (6,386) (15,222)
 Net Loss Per
 Share ($.11) ($.43) ($.72) ($1.74)
 Weighted
 Average Shares
 Outstanding 8,837,315 8,779,462 8,817,092 8,755,387
 Other Information:
 Depreciation and
 Amortization $ 4,017 $ 5,403 $ 17,849 $ 21,712
 Operating Profit 2,121 401 5,705 4,269
 Operating Income
 Before Interest,
 Taxes, Depreciation
 and Amortization
 (EBITDA) $ 6,138 $ 5,804 $ 23,554 $ 25,981
 Net Interest
 Expense $ 2,900 $ 4,148 $ 11,804 $ 19,384
 Net Interest
 Coverage 2.12 1.40 2.00 1.34
 -0- 10/20/93
 /CONTACT: Steven Grant of Silver King Communications, 813-573-0339/
 (SKTV)


CO: Silver King Communications, Inc. ST: Florida IN: ENT TLS SU: ERN

PC-RK -- FL002 -- 4419 10/20/93 09:17 EDT
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Date:Oct 20, 1993
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