C5 3 consolidating an unprofitable subsidiary
HSN reaches some 81 million households in the United States.
IAC is run by Barry Diller, one of the leading media dealmakers in the United States and formerly the head of Fox Television Network. Almost immediately after the switch in format, the station's revenues swelled so much that Paxson was eager to try out his home shopping idea on television.
1995: Barry Diller becomes chairman of HSN after its merger with Silver King. 2003: HSN's parent changes its name to IAC/Inter Active Corp.
Company History: HSN, formerly known as Home Shopping Network, Inc., is the second-largest shop-at-home television network in the United States, behind QVC.
At that time, Home Shopping was still in the process of trying to convince cable operators to carry its show over other alternative programming.
Home Shopping stock became the fastest rising new issue of 1986, registering a 137 percent gain by the end of the day.
HSN sells thousands of unique products through its shows, which are broadcast 24 hours a day via cable, satellite, and network television.