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To: Jim Spitz who wrote (29056)	6/22/2001 8:27:54 AM
From: Jim Spitz	Respond to of 37746

ValueVision celebrates 10 years with name change, new shows Janet Moore Star Tribune Friday, June 22, 2001 As of 9 a.m. today, ValueVision television will cease to exist. But executives at the Eden Prairie company say that's a good thing, because the home shopping network will be renamed ShopNBC, and its Web site will be shopnbc.com . They believe the NBC name and peacock logo will have more pull with TV viewers. The rebranding reflects an agreement reached between ValueVision and NBC last fall. The network and GE Equity, both divisions of General Electric Co., own about a 40 percent stake in ValueVision. Gene McCaffery, ValueVision's chairman and CEO, said the ShopNBC name is the first step in creating a "multiple shopping space" where consumers can use a variety of mediums to shop, including TV and the Internet. "You'll really see the full force of the rebranding this fall," he said. "This is only the beginning." The company will spend about $20 million to market the name change and new programming, McCaffery said, although much of the advertising will be done on cable affiliates already associated with ValueVision. The new ShopNBC network reaches about 46 million cable and satellite households. Speaking from New York City, McCaffery said he is involved in a flurry of deals for new programming. Some of the deals announced Thursday include: The "Star Jones Collection," featuring daytime TV diva Star Jones hawking apparel and home furnishings on a set that mimics her Manhattan apartment. A partnership with Easy Spirit women's shoes, whose spokesperson is actress Cybill Shepherd. ShopNBC will sponsor the Ladies Professional Golf Association's Solheim Cup next year. That partnership involves selling LPGA merchandise on ShopNBC during the tournament. ShopNBC and casino giant Harrah's Entertainment Inc. will air a "reality TV" show called Harrah's Treasure Hunt in which contestants will search for $1 million in the Nevada desert. The program will market travel packages to Las Vegas. Terms of the deals were not released. ValueVision's stock closed Thursday at $22.85, down 46 cents. "The NBC name will really help us become more entertaining and raise the quality of our programming," McCaffery said. He was scheduled to open the Nasdaq market today in Times Square, to celebrate ValueVision's 10th anniversary as a publicly traded company. McCaffery was to be accompanied by ValueVision's founders, Nick Jaksich and Bob Johander, the company's board, Nasdaq officials -- and Star Jones. -- Janet Moore is at jmmoore@startribune.com . © Copyright 2001 Star Tribune. All rights reserved.