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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 5, 1997
Home Shopping Network, Inc.
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(Exact name of registrant as specified in Charter)
Delaware 1-9118 59-264518
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(State of other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2501 118th Avenue North, St. Petersburg, Florida 33716
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code (813) 572-8585
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Not Applicable
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(Former name or former address, if changed since last report)
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ITEM 4 CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On May 5, 1997, the Board of Directors of Registrant voted unanimously
to retain the services of Ernst & Young LLP to serve as its principal auditors
for the fiscal year ending December 31, 1997, and dismissed KPMG Peat Marwick
LLP as its auditors.
Neither KPMG Peat Markwick LLP's Report dated February 25, 1997, on
Registrant's financial statements for the year ended December 31, 1996, nor its
Report dated February 21, 1996, for the year ended December 31, 1995, contained
an adverse opinion or a disclaimer of opinion, and neither Report was qualified
or modified as to uncertainty, audit scope or accounting principles.
The decision to dismiss KPMG Peat Marwick LLP and engage new auditors
follows the merger of Registrant with HSN, Inc. (then named Silver King
Communications, Inc.) on December 20, 1996. Ernst & Young LLP are currently the
principal auditors of HSN, Inc.
During Registrant's two fiscal years ended December 31, 1996, and
December 31, 1995, and the subsequent interim period through May 5, 1997, there
were no disagreements with KPMG Peat Marwick LLP on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure which if not resolved to KPMG Peat Marwick LLP's satisfaction, would
have caused KPMG Peat Markwick LLP to make reference to the subject matter of
the disagreement in connection with KPMG Peat Marwick LLP's Report on the
Registrant's financial statements for such periods.
During Registrant's two fiscal years ended December 31, 1996 and
December 31, 1995, and the subsequent interim period through May 5, 1997, KPMG
Peat Marwick LLP has not advised the Registrant as to the presence of any
reportable event described in Item 304(a)(1)(v) of Regulation S-K.
Registrant has not, during its two fiscal years ended December 31,
1996 and December 31, 1995, and the subsequent interim period through May 5,
1997, consulted with Ernst & Young LLP regarding either the application of
accounting principles to a specified transaction, the type of audit opinion
that might be rendered on Registrant's financial statements, or any matter that
was either the subject of a disagreement (as defined in Item 304(a)(1)(iv) of
Regulation S-K and the related instructions to that Item) or a reportable event
(as described in Item 304(a)(1)(v) of Regulation S-K).
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ITEM 7 FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
16. Letter of KPMG Peat Marwick LLP to the Securities and Exchange
Commission included herein pursuant to the Requirements of
Item 304(a)(3) of Regulation S-K.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HOME SHOPPING NETWORK, INC.
Date: May 5, 1997 By: /s/ Jed B. Trosper
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Jed B. Trosper
Executive Vice President, Chief Financial
Officer and Treasurer
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EXHIBIT 16
May 5, 1997
Securities and Exchange Commission
Washington, D.C., 20549
Ladies and Gentlemen:
We were previously principal accountants for Home Shopping Network, Inc. and,
under the date of February 25, 1997, we reported on the consolidated financial
statements and schedule of Home Shopping Network, Inc. and subsidiaries as of
December 31, 1996 and 1995, and for each of the years in the three-year period
ended December 31, 1996. On May 5, 1997, we were notified that our appointment
as principle accountants was terminated. We have read Home Shopping Network,
Inc.'s statements included under Item 4 of its Form 8-K dated May 5, 1997, and
we agree with such statements, except that we are not in a position to agree or
disagree with Home Shopping Network, Inc.'s statements (i) that the Board of
Directors voted unanimously to retain the services of Ernst & Young LLP, and
(ii) that Home Shopping Network, Inc. has not, during the period January 1, 1997
through May 5, 1997 and during its two fiscal years ended December 31, 1996 and
1995, consulted with Ernst & Young LLP regarding either the application of
accounting principles to a specified transaction, the type of opinion that might
be rendered on Home Shopping Network, Inc.'s financial statements, or any matter
that was either the subject to a disagreement (as defined in Item 304(a)(1)(iv)
of Regulation S-K and the related instructions to that Item) or a reportable
event (as described in Item 304(a)(1)(v) of Regulation S-K).
Very truly yours,
/s/ KPMG Peat Marwick LLP
