ValueVision revamp to ShopNBC

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Home shopping network ValueVision will be renamed ShopNBC starting in June.

The companies said last year that a re-branding of the cable shopping network was in the works to more closely reflect its relationship with NBC. The shopping network - 40% owned by NBC and GE - is available in approximately 36 million cable television and satellite households including DirecTV and the Dish Network.

Separately, the company reported fourth quarter pre-tax operating income of $7 million, up 87%, on a five-fold increase in revenues to $13.4 million. For the year, pre-tax earnings were up 127% to $20, on a 47% revenue gain to $369 million.

The company is projecting a 28% increase in revenue for fiscal year 2001 with a 75% increase in pre-tax earnings. - Steve McClellan

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