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Nevertheless, it remained unprofitable and posted millions of dollars in losses till Barry Diller was named chairman and chief executive at HSN. He successfully managed Paramount Pictures and engineered the creation of the Fox network. Under his path, QVC, the competing home shopping network, flourished. Diller demonstrated a knack for interesting excessive-profile investors in his tasks, such as John Malone, owner of 39 p.c of Silver King Communications, and billionaire David Geffen.
HSN has its roots from a radio station managed by Paxson which in 1977; due to an advertiser’s liquidity downside, the company was paid in can openers. Lo and behold, the can openers sold out and an trade was born. Bob Circosta later turned the new network’s first ever home shopping host and would finally promote seventy five,000 totally different merchandise in over 20,000 … Read More