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PROSPECTUS SUPPLEMENT Filed pursuant to Rule 424(b)(3)
To Prospectus Dated November 19, 1996, Registration No. 333-10511
as supplemented
$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
Boston Safe Deposit & Trust Company ("Boston") and Chase Manhattan Bank
("Chase") of up to $6,328,000 and $10,380,800 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, as supplemented (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 Boston and
Chase are $6,328,000 and $10,380,800, respectively, which may be sold at this
time pursuant to the Prospectus as supplemented hereby. Additional information
concerning the Selling Securityholders (including Boston and Chase) 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 USA Networks, Inc., formerly
HSN, Inc., into which the Debentures are now convertible, as reported on The
Nasdaq National Market on March 2, 1998, was $52.375 per share. On January 23,
1998, the Company announced that all of the Debentures would be redeemed on
March 1, 1998.
The Debentures will be subordinated to all existing and future Senior
Debt of the Company. At December 31, 1997, Senior Debt of the Company was
approximately $434,521,400. 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 March 3, 1998.
