HSN taps into Ticketmaster.(will buy 48% stake)

Broadcasting & Cable, May, 1997 by Higgins, John M.

Is purchasing 48% stake from Paul Allen with plans to boost that to controlling interest Looking to extend his reach in sales by telephone, HSN Inc. Chairman Barry Diller has cut a deal to buy a 48% stake in Ticketmaster from Microsoft co-founder Paul Allen. HSN, parent of the Home Shopping Network, agreed to pay Allen $209 million worth of stock for his stake in the sports and concert ticket sales operation.

HSN plans to buy enough stock on the open market to own more than 50% of the company. Although the two operations will not be fully integrated, Diller says the deal is a natural fit for HSN, which he characterizes as "electronic commerce" rather than simply a mail-order catalogue on television. One source of growth is to offer excess...

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