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Home Shopping Network Mogul Buys Controlling Stake in Ticketmaster.(Originated from Daily News, New York)
Knight Ridder/Tribune Business News, May, 1997 by Mannes, George
May 21--Barry Diller went shopping yesterday and bought a $209 million controlling stake in ducat-seller Ticketmaster.
The Home Shopping Network mogul said he would buy Microsoft co-founder Paul Allen's 47.5 percent stake in Ticketmaster and combine the two giants in an effort to transform them into an electronic retailing powerhouse.
In return, Allen -- Microsoft's second-largest stockholder and the third-wealthiest person in the U.S. -- will acquire an 11 percent stake in HSN.
The deal brings together two of the country's most successful businessmen: Diller, the former Paramount studio chief who built the Fox TV network, and Allen, a billionaire whose investments include the Portland Trailblazers and the Internet publisher...
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