Printer Friendly

HOME SHOPPING SUBSIDIARY FILES PRELIMINARY FORM 10 WITH SEC

 HOME SHOPPING SUBSIDIARY FILES PRELIMINARY FORM 10 WITH SEC
 ST. PETERSBURG, Fla., April 16 /PRNewswire/ -- Home Shopping Network, Inc. (NYSE: HSN) announced today that Precision Systems, Inc. (PSi), a wholly owned subsidiary, has filed a preliminary Information Statement/Form 10 with the Securities and Exchange Commission in connection with the proposed spin-off of PSi to the stockholders of HSN.
 PSi is principally engaged in the research, development, production, marketing, sale and support of a fully integrated voice and call processing platform and its component systems. Recently, PSi was awarded a $15 million contract expansion to an original contract signed with MCI Communications Corporation in 1990, brining the total value to more than $30 million. PSi is contracted to provide MCI with computerized voice response equipment and technology.
 Roy M. Speer, chairman and chief executive officer of HSN, commented, "We are excited about the future of PSi. This spin-off will enable HSN and PSi to better focus on their core businesses. PSi is well positioned to move forward as a separate public company, including the recent addition of Jacqueline E. Soechtig as president and chief executive officer. Soechtig has more than 20 years of experience in the computer and telecommunications industries with such companies as U.S. Sprint, MCI Telecommunications Corporation and IBM."
 -0- 4/16/92
 /CONTACT: Home Shopping Network corporate communications department, 813-572-8585, ext. 7420/
 (HSN) CO: Home Shopping Network, Inc.; Precision Systems, Inc. ST: Florida IN: REA SU:


AW-JB -- FL002 -- 9093 04/16/92 08:52 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 16, 1992
Words:249
Previous Article:A&W BRANDS REPORTS FIRST QUARTER NET EARNINGS INCREASE OF 17 PERCENT
Next Article:SEC DONOHUE ACQUIRES ASSETS FROM WESTINGHOUSE ENVIRONMENTAL AND GEOTECHNICAL SERVICES


Related Articles
HOME SHOPPING SUBSIDIARY FILES PRELIMINARY FORM 10 WITH SEC
HOME SHOPPING BROADCAST SUBSIDIARY FILES PRELIMINARY FORM 10 WITH SEC
Imperial Credit Commercial Mortgage Investment Corp. Announces Quarterly Dividend.
GM Files Preliminary Registration Statement Covering Planned Exchange Offer.
Virginia Supreme Court Grants Ruling in Favor of HotJobs.com Preliminary Injunction Against Digital City, Inc. Remains in Place.
Centigram Communications Reports Filing of Preliminary Proxy Statement.
Thermo Electron Further Extends Exchange Offer for Thermedics Shares to June 29, 2000.
AT&T Latin America Closes Acquisition of Keytech LD in Argentina.
Sybron International Corporation Releases Preliminary Pro Forma Financial Information Excluding Sybron Dental Specialties.
Unocal Replaces 222 Percent of 2001 Crude Oil, Natural Gas Production.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters