In a merger of two TLAs, the Home Shopping Network Inc. (HSN) has bought the Internet Shopping Network (ISN) and launched a new subsidiary called HSN Interactive Inc.
ISN was founded in June, 1993, by Randy Adams. He will now report to Jeff Gentry, the head of the new unit. The ISN offers about 20,000 products from nearly 1,000 companies now, and HSN said it would greatly expand the unit.
HSN President Gerald Hogan, who came to the company from Turner Broadcasting, said the deal will continue his firm's "pioneering tradition." Adams said that as part of HSN "we now have the opportunity to offer national brand retailers and catalogers a safe, cost-effective avenue for selling their products on the Internet."
The move by HSN into Internet retailing comes as it faces new competition in its TV shopping niche. QVC Network Inc., its major competitor, is in the process of being acquired by Comcast and TCI, both major cable operators. US West, the regional Bell company, is in the process of launching US Avenue, a cable shopping service with support from such companies as JC Penney and Nordstrom.
At one time last year, HSN was in the process of being acquired by QVC, but those talks ended during the QVC battle with Viacom over Paramount, which was eventually won by Viacom.
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