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UNITED STATES
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): December 19, 1997
VALUEVISION INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
MINNESOTA
(State or other jurisdiction of incorporation)
0-20243 41-1673770
(Commission File Number) (IRS Employer Identification No.)
6740 SHADY OAK ROAD, EDEN PRAIRIE, NM 55344
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (612) 947-5200
NOT APPLICABLE
(Former name or former address, if changed since last report)
Page 1 of 4
Exhibit Index Appears on Page 3
ITEM 5. OTHER EVENTS.
The Registrant's Press Release dated December 19, 1997, which is filed as
Exhibit 99.1 to this Form 8-K, is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENT, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits
99.1 Press Release dated December 19, 1997.
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Page 2 of 3
SIGNATURE
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 thereunto duly authorized.
VALUEVISION INTERNATIONAL, INC.
(Registrant)
Date: December 19, 1997 By: /s/ Stuart R. Romenesko
---------------------------------
Name: Stuart R. Romenesko
Title: Senior Vice President Finance
Chief Financial Officer
EXHIBIT INDEX
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99.1 Press Release . . . . . . . . . . . . . . . . . . . . 4
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[VALUE VISION INTERNATIONAL LETTERHEAD]
FOR IMMEDIATE RELEASE
December 19, 1997
VALUEVISION REPORTS LAWSUIT
MINNEAPOLIS, DECEMBER 19, 1997--ValueVision International, Inc. (Nasdaq: VVTV)
an integrated electronic and print media direct marketing company and
television home-shopping network, today announced that Time Warner Cable had
filed a lawsuit against Bridgeways Communications Corporation and ValueVision
alleging, among other things, tortious interference with contractual and
business relations and breach of contract. According to the complaint,
Bridgeways and Time Warner Cable have been in a dispute since 1993 regarding
Bridgeways' attempt to assert "must carry" rights with respect to television
station WHAI-TV in the New York City Area of Dominant Influence.
ValueVision purchased television station WHAI-TV from Bridgeways in 1994 and
subsequently sold it in 1996. ValueVision and Time Warner Cable entered into a
cable affiliation agreement in 1995 pursuant to which ValueVision agreed not to
assert "must carry" rights with respect to television station WHAI-TV and
pursuant to which ValueVision's programming is currently carried by Time Warner
Cable in approximately 4.2 million full time equivalent cable households. The
complaint seeks unspecified damages and for the court to declare the cable
affiliation agreement between Time Warner Cable and ValueVision null and void.
The company is confident that it remains in full compliance with the terms and
conditions of the cable affiliation agreement and that it has been
inappropriately named in this lawsuit involving Time Warner Cable and
Bridgeways. The company believes that the lawsuit is completely without merit
and plans to defend it vigorously.
For additional information on ValueVision International, Inc.
by fax, at no cost, dial 1-800-PRO-INFO, and enter code VVTV.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Certain information included in this press
release (as well as information included in oral statements or other written
statements made or to be made by the company) contains statements that are
forward-looking, such as statements relating to the likely outcome of
litigation Such forward-looking information involves important risks and
uncertainties that could significantly affect anticipated results in the
future and accordingly, such results may differ from those expressed in any
forward-looking statements made by or on behalf of the company.
