HSN adopts stockholders rights plan

ST. PETERSBURG, Fla. HSN announced that its board of directors has adopted a stockholder rights plan designed to protect stockholders in the event of an unsolicited takeover proposal. The plan was not implemented in reaction to any particular accumulation of shares or takeover activity.

In commenting on the newly adopted plan, Mindy Grossman, CEO of HSNi, stated, "We continue to be optimistic regarding the company's long-term prospects which we believe are not adequately reflected in the current trading price of our stock. The board believes that adoption of the plan will help ensure that the company has the opportunity to pursue its long-term growth strategy and protect our stockholders by providing the board with adequate time to evaluate alternatives in the event of an unsolicited offer."