The Home Shopping Network has postponed its annual meeting originally scheduled for Tuesday to an undetermined date, pending further review by the U.S. Dept. of Justice of HSN’s deal to be acquired by Liberty Media.
According to the company, the shift is also being made to allow more time to circulate a proxy for shareholder consideration.
A month ago, HSN head Roy Speer, also the topper of RMS Limited Partnership, the parent of the shopping service, agreed to sell his controlling stake to Liberty Media for $ 60 million in cash and about $ 100 million in HSN stock. The deal was expected to have been completed by the end of 1992.