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QVC Withdraws

QVC Network Inc. has broken off negotiations with JCPenney Co. and withdrawn its March 16 offer to acquire cable affiliation agreements from the JCPenney Television Shopping Channel, according to court papers filed by Penney.

A spokesman for JCPTV in Dallas said a new offer is on the table and will be considered.

Meanwhile, Shop Television Network Inc. continues to press complaints against JCPenney and JCPTV in L.A. Superior Court and a suit against QVC for alleged interference with the STN contract with JCPenney.

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