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HOME SHOPPING NAMES NEW BOARD MEMBERS -- APPOINTS SPECIAL COMMITTEE TO REVIEW QVC'S MERGER PROPOSAL; MALONE AND BARTON RESIGN BOARD POSTS

 ST. PETERSBURG, Fla., July 13 /PRNewswire/ -- Home Shopping Network, Inc. (NYSE: HSN) announced today that three new members have been named to its board of directors and a special independent committee of the board has been formed to review QVC Network, Inc.'s (NASDAQ-NMS: QVCN) merger proposal of July 12, 1993. These actions were taken at a board meeting earlier today.
 During today's meeting, John Malone, chairman of Liberty Media Corp., and Peter Barton, Liberty's president, resigned from the board. Their positions and another board vacancy were filled by Leo J. Hindery Jr., founder, managing general partner and chief executive officer of InterMedia Partners and affiliated companies; John Draper, a Liberty Media Corp. executive; and George C. McNamee, chairman of First Albany Companies, Inc. (NASDAQ-NMS: FACT).
 Directors selected to serve on the special independent committee were McNamee, committee chairman; Gerald Hogan, president and chief executive officer of HSN; and J. Anthony Forstmann. The committee is authorized to investigate and review the QVC proposal and act on behalf of the company, subject to final approval of the board and its audit committee. The audit committee reviews and approves all related party transactions.
 In other board activity, Roy M. Speer, chairman, requested that the board amend the company's by-laws so that the chairman of the board is no longer an officer of the company. Speer has not been involved in the management of the company since mid-February this year, when Liberty assumed control of HSN. Pursuant to his contract, Speer will continue as a director and chairman of the bard.
 John Draper serves as senior vice president and general counsel of Liberty. He was formerly general counsel for TeleCommunications, Inc.
 Leo J. Hindery Jr. formed InterMedia Partners in 1988, and within 18 months had acquired cable television systems in seven states. InterMedia now is one of the 20 largest multiple system operations in the United States, serving approximately 690,000 subscribers in 12 states.
 George C. McNamee is chairman of First Albany Companies, Inc., a publicly traded holding company, and its principal subsidiary, First Albany Corporation, a regional investment banking firm. He began his career in the securities industry in 1969.
 Hogan said, "We welcome our new board members. Their combined expertise and experience will bring strength and enthusiasm to the board. While the special independent committee considers the merger proposal, HSN will continue to actively pursue new business opportunities, aggressively compete in the marketplace and provide our Club members with quality merchandise and real values."
 -0- 7/13/93
 /CONTACT: Louise Cleary of Home Shopping Network corporate communications department, 813-572-8585, ext. 7420/
 (HSN QVCN FACT)


CO: Home Shopping Network, Inc. ST: Florida IN: REA SU:

JB-RC -- FL009 -- 1133 07/13/93 19:01 EDT
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Publication:PR Newswire
Date:Jul 13, 1993
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