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PROSPECTUS SUPPLEMENT Filed Pursuant to Rule 424(b)(3)
To Prospectus Dated November 19, 1996 Registration No. 333-10511
$100,000,000
HOME SHOPPING NETWORK, INC.
5-7/8% Convertible Subordinated Debentures due March 1, 2006
and
Shares of Common Stock, Par Value $.01 Per Share,
Issuable Upon Conversion Thereof
This Prospectus Supplement (the "Supplement") relates to the resale by
Paloma Securities, L.L.C. ("Paloma") and GPZ Trading ("GPZ") of up to $50,000
and $2,100,000 aggregate principal amount, respectively, of 5-7/8% Convertible
Subordinated Debentures due March 1, 2006 (the "Debentures") of Home Shopping
Network, Inc., a Delaware corporation (the "Company"), originally issued in a
private placement consummated during March 1996, pursuant to the Company's
Registration Statement on Form S-3 (No. 333-10511) (the "Registration
Statement"). This Supplement should be read in conjunction with the Prospectus
dated November 19, 1996 (the "Prospectus"), to be delivered with this
Supplement. All capitalized terms used but not defined in this Supplement
shall have the meanings given them in the Prospectus.
Based on information provided to the Company, the aggregate principal
amount of the Debentures that are currently beneficially owned by Paloma and
GPZ are $50,000 and $2,100,000, respectively, which may be sold at this time
pursuant to the Prospectus as supplemented hereby. Additional information
concerning the Selling Securityholders (including Paloma and GPZ) may be set
forth from time to time in additional supplements to the Prospectus. The total
outstanding aggregate principal amount of the Debentures is $100,000,000.
The closing price of the Common Stock of HSN, Inc., into which the
Debentures are now convertible, as reported on the Nasdaq National Market on
April 28, 1997, was $23.00 per share.
The Debentures will be subordinated to all existing and future Senior Debt
of the Company. At March 31, 1997, Senior Debt of the Company was
approximately $810,000. The Indenture contains no limitations on the
incurrence of additional indebtedness or other liabilities by the Company.
The Debentures are neither listed on a national securities exchange nor
quoted on an automated quotation system. However, the Debentures are eligible
for trading in the Private Offerings, Resales and Trading through Automated
Linkages ("PORTAL") Market. Debentures sold pursuant to the Registration
Statement will no longer be eligible for trading in the PORTAL Market.
The date of this Prospectus Supplement is April 30, 1997.
