Movie production is glamorous, easy and enjoyable, filled with lovely folks and constant explosions, right? Integrating the companies will make them stronger than they are individually and stronger yet as a standalone entity” in a altering and troublesome market,” stated Greg Maffei, Liberty’s president and CEO. That is an almost 30 p.c premium to HSN’s latest inventory value. Liberty Interactive ( QVCA ), which owns QVC and already owns 38 percent of HSN, will buy the remainder of Home Procuring Network for about $2.6 billion in a stock deal.
Allen & Company is serving as financial advisor and Baker Botts LLP is serving as authorized advisor to Liberty Interactive. In 1998, Dwelling Procuring Community launched a Spanish-language service Residence Buying en Español on the Univision-owned Galavision cable community. Combined, they will serve an estimated 23 million prospects worldwide and ship greater than 320 million packages every year, mentioned Mike George , QVC’s president and CEO.
After the deal, slated to close within the fourth quarter, Liberty Interactive said it planned to spin off its cable-TELEVISION operations into an unbiased firm that shall be referred to as QVC Group. Liberty Interactive Company operates and owns pursuits in a broad range of …