A Diller-Chao 5th TV Network?
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NEW YORK — Barry Diller, who created the Fox network and is now part owner and chairman of the QVC shopping network, has recruited former Fox Television executive Stephen Chao to help develop Best TV, a fifth network, according to a report in Newsweek magazine.
Citing sources, Newsweek said in its latest issue that Chao will join the organization next month.
Chao, described by Newsweek as a Diller protege, left Fox after reportedly offending News Corp. Chairman Rupert Murdoch when he hired a male stripper for a company meeting.
Fox is a subsidiary of News Corp.
Diller’s QVC announced Saturday that it was proposing a merger with rival Home Shopping Network, which is partly owned by Liberty Media, a branch of cable operator Tele-Communications Inc.
Liberty Media also has a stake in QVC.
Such a merger, Newsweek noted, give would give weight to Diller’s apparent plans for launching Best TV.
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