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SILVER KING COMMUNICATIONS, INC. ANNOUNCES THIRD QUARTER RESULTS

 ST. PETERSBURG, Fla., June 22 /PRNewswire/ -- Silver King Communications, Inc. (NASDAQ Small Cap: SKTV) today announced its financial results for the quarter ended May 31, 1993. Total revenues decreased 3.2 percent, or $.3 million, to $11.2 million from $11.5 million in the quarter ending May 31, 1992. For the first nine month period, total revenues decreased 3.2 percent, or $1.1 million, to $34.6 million from $35.7 million. The decrease primarily results from lower sales at the company's video production unit, Telemation, Inc.
 For the third quarter of fiscal 1993, SKTV had a net loss of ($1.7) million, or ($.19) per share compared to a net loss in the comparable quarter last fiscal year of ($4.2) million, or ($.48) per share. This improvement of $2.5 million, or 59.9 percent represents $.29 per share, or 60.4 percent improvement on a per share basis over the comparable quarter. For the first nine month period, SKTV had a net loss of ($5.4) million, or ($.62) per share compared with a net loss of ($11.5) million, or ($1.31) per share last fiscal year. Year-to-date this improvement of $6.1 million, or 52.6 percent, represents $.69 per share, or 52.7 percent improvement on a per share basis from last year's results.
 For the third quarter of fiscal 1993, the company had operating income before depreciation and amortization (EBITDA) of $5.0 million, compared to $6.3 million in the same quarter last year. Although the company reported a $1.3 million, or 20.4 percent decline in EBITDA, its net interest coverage improved to 2.01 times from 1.24 times in the comparable quarter last year. For the first nine month period, EBITDA declined $2.8 million, or 14.0 percent, to $17.4 million, from $20.2 million while net interest coverage increased to 2.11 times from 1.32 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 which serve eight 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 Nine Months Ended
 5/31/93 5/31/92 5/31/93 5/31/92
 (In thousands, except per share data)
 Revenues $ 11,167 $ 11,535 $ 34,563 $ 35,716
 Net Loss (1,703) (4,242) (5,443) (11,480)
 Net Loss Per
 Share ($0.19) ($0.48) ($0.62) ($1.31)
 Weighted
 Average Shares
 Outstanding 8,830,337 8,775,548 8,810,276 8,747,303
 Other Information:
 Depreciation and
 Amortization $ 3,559 $ 5,461 $ 13,832 $ 16,309
 Operating Profit 1,486 876 3,527 3,868
 Operating Income
 Before Depreciation
 and Amortization
 (EBITDA) $ 5,045 $ 6,337 $ 17,359 $ 20,177
 Net Interest
 Expense $ 2,505 $ 5,091 $ 8,244 $ 15,236
 Net Interest
 Coverage 2.01 1.24 2.11 1.32
 -0- 6/22/93
 /CONTACT: Steven Grant of Silver King Communications, 813-573-0339/
 (SKTV)


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

JB-RC -- FL005 -- 4593 06/22/93 13:06 EDT
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Date:Jun 22, 1993
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