Complete Story
07/07/2017
QVC buying longtime rival Home Shopping Network in $2.1 billion deal
QVC just made a deal to buy its biggest rival, the Home Shopping Network.
In an all-stock deal valued at $2.1 billion, Liberty Interactive will purchase the 62 percent of HSNi that it didn't already own.
"Every year they together produce over 55,000 hours of shoppable video content and have strong positions on multiple linear channels and OTT platforms," Liberty Interactive CEO Greg Maffei said in a statement. "The value of the combined QVC, HSNi and zulily will be further highlighted when later this year QVC Group becomes an asset-backed stock as part of the previously announced split-off of Liberty Ventures."
