SILVER KING COMMUNICATIONS, INC. ANNOUNCES FIRST QUARTER RESULTS

ST. PETERSBURG, Fla., Dec. 28 /PRNewswire/ -- Silver King Communications, Inc. (Nasdaq: SKTV) today announced its financial results for the quarter ended November 30, 1995. Total revenue for the first quarters of fiscal year 1996 and 1995 were unchanged at approximately $11.6 million. For the first quarter of fiscal year 1996, the Company reported a net loss of $(3.3) million or $(.35) per share compared to a net loss of $(31) thousand or less than one cent per share in the same quarter last year. The primary reasons for the net loss include the previously disclosed $2.0 million Company-wide restructuring and relocation charges, an additional $.6 million charge related to the closing of the Denver facility of Telemation, Inc., and $.8 million of charges under the terms of the Equity and Bonus Compensation Agreement entered into between the Company and its new Chairman, Barry Diller.

The Company also announced that James M. Lawless has resigned as a member of the Company's Board of Directors, effective December 22, 1995, and no longer serves as President. Mr. Lawless served the Company with distinction as Chairman of the Board from June 7, 1994 until August 24, 1995 and as President since January 12, 1994.

SKTV owns and operates 12 independent full power UHF broadcast television stations which serve 8 of the 12 largest markets in the United States, including New York, Los Angeles and Chicago, and the stations reach approximately 28 million television households.

                 SILVER KING COMMUNICATIONS, INC.                 FINANCIAL HIGHLIGHTS (Unaudited)                                          Quarter Ended                                   11/30/95          11/30/94                              (In thousands, except per share data) 

Selected Income Statement Information:

     Revenue                        $11,553           $11,555     Net loss                       $(3,319)          $   (31) 

Per share basis:

     Net loss                       $  (.35)          $   --- 

Weighted Average

      Shares Outstanding              9,378             8,899 

Selected Balance

      Sheet Information As Of:     11/30/95           11/30/94     Cash and Cash Equivalents      $21,580           $11,099     Total Debt Outstanding        $111,456          $122,381     -0-                       12/28/95 

/NOTE TO EDITORS: Other Silver King Communications press releases are available at no charge through PR Newswire's Company News On-Call fax service and on PRN's Web site. For a menu of Silver King Communications press releases or to retrieve a specific release, call 800-758-5804, extension 790925, or http://www.prnewswire.com on the Internet./

/CONTACT: Jason Stewart, 310-246-1411, or Steven Grant, 813-573-0339, both of Silver King/

(SKTV)

CO: Silver King Communications, Inc. ST: Florida IN: ENT SU: ERN

AD-KW -- FLTH006 -- 9303 12/28/95 17:11 EST