BIZWATCH: Nov 3, 1997

BARRY'S BACK IN PRIME TIME

First he lost a bidding war for Paramount Communications in 1994. Then his effort to take over CBS collapsed at the last minute. But last week Barry Diller, who masterminded the rise of the Fox Network for Rupert Murdoch's News Corp. a decade ago, was no longer a mogul-without-portfolio. Diller, who heads up the unglamorous HSN, whose holdings include the Home Shopping Network and a stake in Ticketmaster, struck a deal for nearly $4.1 billion with Seagram Co. that lays a foundation for his own entertainment empire. Diller, 55, will pay Seagram $1.2 billion in cash...

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