Barry Diller, chairman, USA Networks wants to buy October Films and Gramercy Pictures as part of a strategy of “vertical integration” but has no plans to be a “big studio guy,” according to a report in Variety.
The potential film deals, valued at $200 million, Variety notes, may not be as important as pending deal with Lycos. The $22 billion agreement calls for USA’s Home Shopping Network and controlling stake in Ticketmaster Online-Citysearch to be merged with Lycos, with USA in control of the Lycos/USA Interactive Networks.
Diller, a one-time president of Paramount Pictures, made the remarks to a group of Wall Street investors last Thursday.
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