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Short Take: Allen raises stake in USA Networks

Paul Allen bought 1 million more shares in USA Networks last month, raising his stake to a total of 15.8 million, or 4.8 percent of the company, Bloomberg reported. Headed by Barry Diller, USA Networks properties includes Home Shopping Network and the USA Network cable channel. Allen, who is a board member, acquired about 14.5 million USA Networks shares in July 1997.

Paul Allen bought 1 million more shares in USA Networks last month, raising his stake to a total of 15.8 million, or 4.8 percent of the company, Bloomberg reported. Headed by Barry Diller, USA Networks properties includes Home Shopping Network and the USA Network cable channel. Allen, who is a board member, acquired about 14.5 million USA Networks shares in July 1997.