HOME SHOPPING NETWORK AND BLACK ENTERTAINMENT TELEVISION TO CONSIDER MERCHANDISING OPPORTUNITIES
ST. PETERSBURG, Fla., Nov. 9 /PRNewswire/ -- Home Shopping Network, Inc.
(NYSE: HSN) and Black Entertainment Television (BET) announced today that they have signed an agreement to explore joint business opportunities. Under consideration is a joint venture that would produce and operate a shop-at-home programming service designed to market selected goods to BET viewers.
Initial plans call for various shopping options to be aired on a part-time basis on BET's existing cable coverage, with full-time expansion to a separate shopping channel an ultimate goal. Among services HSN would likely provide are production and telephone operations, as well as transactional and fulfillment services. HSN and BET Direct, Inc., a wholly owned subsidiary of BET, will develop products and advertise them via direct marketing on BET. BET will also provide creative expertise, among other things. Gerald F. Hogan, president and chief executive officer of HSN said, "We are enthusiastically negotiating programming and other services with BET. We believe HSN's TV retailing expertise can be effectively applied to successfully meet BET's needs. BET represents a unique television programming niche, and we are confident HSN can help serve its audience." In exploring the possibility of offering a shopping service to BET viewers, Janis P. Thomas, president, BET Direct, said, "We are looking forward to joining HSN in developing exciting retail programming for our viewers. With our knowledge of our viewers' needs and HSN's TV shopping know-how, we believe we'll have a winner." -0- 11/9/93 /CONTACT: Louise Cleary of Home Shopping Network, 813-572-8585, ext. 7420; or Janis Thomas of Black Entertainment Television, 202-337-5260/ (HSN)
CO: Home Shopping Network, Inc.; Black Entertainment Television ST: Florida IN: REA SU:
RK-JB -- FL009 -- 2347 11/09/93 14:39 EST
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|Date:||Nov 9, 1993|
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