HSN gets a new sibling.(Brief Article)

Broadcasting & Cable, January, 2000 by Higgins, John M.

USA Networks Inc. is acquiring all outstanding shares of customer-service contractor Precision Response Corp. in a tax-free merger. PRC will be combined with USA's Home Shopping Network and Ticketmaster, creating a network of 10,000 workstations handling more than 160 million calls a year in 40 worldwide call centers.

Under the agreement, each PRC share will be converted into .54 of a share of USAi common stock, unless USAi stock drops below $37.04. PRC could then terminate the transaction and USAi could issue additional shares to PRC shareholders providing a value of $20 per shares The transaction is expected to close by June.