Stay in Touch
Get sneak previews of special offers & upcoming events delivered to your inbox.
Sign in
07-06-2017 10:24 AM
The parent company of QVC has agreed to buy rival Home Shopping Network for $2.1 billion in stock. Liberty Interactive Corp. already owns 38 percent of HSNi and the deal announced Thursday includes the remaining 62 percent.
HSN shareholders will receive 1.65 shares of QVC’s stock for each share of HSN. Being that HSN’s stock closed Wednesday at $40.36, the deal price is equivalent to a 29 percent premium.
Liberty said the acquisition would have various benefits, including increased scale and competitive position for QVC, “meaningful synergies through cost reduction and revenue growth opportunities,” optimized programming across five U.S. networks and “cross marketing to better engage existing and potential customers.”
Liberty Interactive President and CEO Greg Maffei said in a statement that the two home shopping networks combined each year to produce over 55,000 hours of shoppable video content. He said the value of QVC, HSNi and zulily, the Seattle-based e-commerce company Liberty bought in August 2015 for $2.6 billion, will be enhanced further later this year when QVC Group becomes an asset-backed stock as part of the previously announced split-off of Liberty Ventures.
More at bizjournals.com
07-06-2017 10:29 AM
NO!!!!!!!
07-06-2017 10:33 AM
I thought that happened a long time ago
07-06-2017 10:33 AM
Interesting news. Will have to see how this changes HSN.
07-06-2017 10:36 AM
@butterfly123 wrote:Interesting news. Will have to see how this changes HSN.
@butterfly123....that is what I am afraid of.
07-06-2017 10:38 AM
I was just reading about this on Fox Business News, very interesting to see what happens!
07-06-2017 10:43 AM
Wow, I don't do a lot of shopping anymore but I do enjoy watching many shows on HSN as opposed to QVC. Whatever happened to anti-trust laws?
For me, this is a bummer.
07-06-2017 10:44 AM - edited 07-06-2017 11:53 AM
@catwhisperer wrote:
@butterfly123 wrote:Interesting news. Will have to see how this changes HSN.
@butterfly123....that is what I am afraid of.
I understand that the two shopping channels have very different programming, target age groups, the game arcade, and several other differences. Hopefully this will be taken into consideration.
07-06-2017 10:49 AM
@catwhisperer wrote:
@butterfly123 wrote:Interesting news. Will have to see how this changes HSN.
@butterfly123....that is what I am afraid of.
@catwhisperer wrote:
@butterfly123 wrote:Interesting news. Will have to see how this changes HSN.
@butterfly123....that is what I am afraid of.
Me too!
07-06-2017 10:49 AM
Great... Now HSN will have a non working website too.....
Get sneak previews of special offers & upcoming events delivered to your inbox.
*You're signing up to receive QVC promotional email.
Find recent orders, do a return or exchange, create a Wish List & more.
Privacy StatementGeneral Terms of Use
QVC is not responsible for the availability, content, security, policies, or practices of the above referenced third-party linked sites nor liable for statements, claims, opinions, or representations contained therein. QVC's Privacy Statement does not apply to these third-party web sites.
© 1995-2024 QVC, Inc. All rights reserved. | QVC, Q and the Q logo are registered service marks of ER Marks, Inc. 888-345-5788