
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, April 4, 1991                   TAG: 9104040142
SECTION: BUSINESS                    PAGE: B-6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

HOME SHOPPING SAYS LITIGATION CREATED LOSS

Home Shopping Network Inc. said Wednesday it has adjusted its second-quarter results to report a loss of $24.6 million instead of previously reported earnings of $6.7 million. The change is based on litigation settlements of $33 million and an increase in tax reserves.

The St. Petersburg, Fla., company, operating a Salem distribution center, reported a first-half loss of $12.2 million instead of earnings of $19.2 million reported earlier.

Roy Speer, chairman, said sales growth since March 1 has returned to the pace before the Persian Gulf War. The company has reduced its debt by about $15 million and repurchased 2.3 million shares of its common stock, he said. - Staff report

by CNB