USA May Add 1 or 2 More Networks


USA Networks Inc., which is about to be debt-free, plans tostart up or acquire one or more cable networks during the next six months, chairman BarryDiller said last week.

Diller made the remarks without offering any details aboutwhat kinds of networks he is looking to launch or buy during a phone call with reporterson USA Networks' third-quarter earnings.

"We have the capital resources to start our own ... orto make an acquisition if something comes along at prices we think are rational," hesaid.

USA Networks' current cable stable includes USA Network,Sci Fi Channel, Home Shopping Network and America's Store.

"We have four, and I can tell you we will have five atleast, or six -- five for certain, I hope for six -- sometime in the next sixmonths," Diller said.

He added that USA Networks was in discussions right nowabout a new network that were close to being completed.

USA Networks currently has $130 million in debt on itsbooks, which will be going to zero shortly, officials said.

In the third quarter, the company posted a loss of $7.7million, or 4 cents per share, compared with a pro forma loss of $30.7 million (22 cents)in the year-ago period. The actual year-earlier loss was $4.8 million (3 cents).

Revenue was $793.2 million, a 24 percent increase from theyear-ago quarter's actual $640.5 million.