QVC to Merge With Home Shopping Network in $2.1 Billion Deal
RisingWorld
2017-07-07
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QVC to Merge With Home Shopping Network in $2.1 Billion Deal
“The increased scale of this combination will allow us to more effectively compete, we think, in a changing
and evolving retail and digital environment,” Gregory B. Maffei, the chief executive of Liberty Interactive, said on a conference call with analysts on Thursday.
That publicly traded company would comprise QVC, HSN and Zulily, the flash sale site that Liberty bought for $2.4 billion two years ago.
His Liberty Interactive, which owns QVC, said on Thursday
that it would combine with its longtime rival, the Home Shopping Network, in a $2.1 billion deal.
Liberty Interactive then plans to spin off its nonretail assets, including its stakes in the cable operator Charter
and Liberty Broadband, and rename the remaining operations the QVC Group.
“The increased scale of this combination will allow us to more effectively compete, we think, in a changing
and evolving retail and digital environment,” Gregory B. Maffei, the chief executive of Liberty Interactive, said on a conference call with analysts on Thursday.
That publicly traded company would comprise QVC, HSN and Zulily, the flash sale site that Liberty bought for $2.4 billion two years ago.
His Liberty Interactive, which owns QVC, said on Thursday
that it would combine with its longtime rival, the Home Shopping Network, in a $2.1 billion deal.
Liberty Interactive then plans to spin off its nonretail assets, including its stakes in the cable operator Charter
and Liberty Broadband, and rename the remaining operations the QVC Group.
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