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HSN, an operating business of IAC/InterActiveCorp (Nasdaq: IACI), originated the electronic retailing concept in 1977 on a small AM radio station in Florida. The Home Shopping Network has since evolved into a global multichannel retailer on TV, where HSN is now the 4th largest cable television network in the U.S.; the Internet, through hsn.com; and catalogs such as Improvements and Home Focus. In 2003, HSN generated worldwide consolidated sales of $2.2 billion, answered 62 million calls and delivered 50 million packages worldwide.
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