Focus on Entertainment Stocks

Spotlight on Home Shopping Network Inc.: In February, Liberty Media Corp. gained a controlling 71% of the vote, bought about 41.5% of the company’s equity and appointed Gerry Hogan as chief executive. Says analyst John Field at Hanifen, Imhoff Inc.: “The new management is pretty well refocusing on improving both the company’s product lines and overall sales. They’re trying to get away from the small, under $10 items and replace them with higher-end, upscale items.”

Major Properties

Cable: Reaches 60 million households with 5 million active Club members

Products: Jewelry, electronics, housewares, toys, clothing, collectibles

Designers: Ivana Trump, Shell Kepler, Vanna White, Suzanne Somers, Shari Bellafonte, Bob Eubanks, Dick Clark

Financial Data

Market capitalization: $748.3 million

Cash: $53.5 million

Long-term debt: $172.9 million

1992 revenue: $1.1 billion

1992 profit: $37.3 million

Earnings per share: $0.42