USA Networks Inc. chairman Barry Diller told reporters Thursday that he was
not frustrated that his quest for Rainbow Media Group came up short, but he left
the door open if the programming assets ever returned to the auction block.
'I'm less frustrated than I would have been if they sold them to someone else
at a price we thought was one we would have paid,' Diller said in a conference
call with reporters to discuss USA's fourth-quarter earnings.
'We've been interested in these for a long time, but holding our breath to
wait for their disposition would be unwise,' he added. 'As far as we're
concerned, the process is over. On to other opportunities.'
Diller said later that those opportunities include focusing on its two
recently acquired cable networks -- Trio and Newsworld International -- and
looking at other acqusitions as they come along. That also could include Rainbow
if the assets ever come up for sale again.
'We would revisit anything,' Diller said. 'If [Rainbow] comes up again, we'll
be right there, eager and energetic and seductive as our little bankroll will
For the quarter, USA's pro forma revenue increased 21 percent to $1.1 billion
and cash flow was up 17 percent to $201.3 million.