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USA Network founder quits
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April 9, 1998: 3:44 p.m. ET
Cable pioneer Koplovitz leaves USA to pursue 'a number of opportunities'
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NEW YORK (CNNfn) - Cable TV pioneer Kay Koplovitz, chairman and CEO of USA Networks, is leaving the company she founded in 1977.
Her departure follows the $4 billion acquisition of USA Networks by Barry Diller's Home Shopping Network from Universal Studios Inc. last October.
"I have decided to do more of what I love best -- building businesses," said Koplovitz. "I'm in discussion with Barry and others about the possibility of creating and leading new ventures both inside and outside USA Networks."
"I've been approached with an extraordinary number of opportunities," she added.
Koplovitz, a cable pioneer who built USA Network into a top-rated cable network and launched the Sci-Fi Channel, will remain at the company through a transition period.
"Kay Koplovitz is a remarkable executive, having done a remarkable job over many years and many obstacles in building a great cable programming company," Diller said in a statement. "I hope we are lucky enough to have an association in the future."
HSN, which assumed the name USA Networks (USAI), owns the USA Network and the Sci-Fi Channel, which are seen in more than 73 million and 48.3 million homes respectively.
Seagream Co. is a 45 percent owner of the USA Networks, which earned $13.1 million on revenues of $1.26 billion in 1997.
USA Networks shares were up 1/2 at 27-1/4 in late afternoon trading on the Nasdaq.
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USA Network
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