QVC, Home Shopping Network to merge in $2B deal

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West Chester-based video-shopping network QVC and the Home Shopping Network will merge in an effort to gain footing in the fight against online retailers.



Liberty Interactive Corp., which controls QVC, will acquire the 62 percent of HSN it doesn’t already own, the companies said in a statement Thursday. The all-stock transaction is valued at $2.1 billion.

In recent years, QVC has faced weak sales and cut jobs as the network has faced stiff competition from online shopping mega-sites like Amazon amid consumers’ shifting preferences.


Mike George, QVC’s president and CEO, said in a statement that the combined company would be “well-positioned to help shape the next generation of retailing.”

QVC said the acquisition would allow the company to boost its scale, spur development of its mobile and online platforms, and optimize its programming, cross-marketing and finances.

“By creating the leader in discovery-based shopping, we will enhance the customer experience, accelerate innovation, leverage our resources and talents to further strengthen our brands, and redeploy savings for innovation and growth,” George said.





HSN shareholders will receive 1.65 shares of Series A QVC stock for each share of HSN. The offer values each HSN share at $40.36, a 29-percent premium on its Wednesday closing price, the companies said.

Plans for the rivals to merge were proposed and then canceled more than decades ago, and had been rumored at times over the years.





















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1 Philadelphia

Philadelphia News & Search

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