Liberty Interactive Corp. said it's buying the remaining portion of HSN Inc. that it doesn't own in a multi-billion-dollar deal.
Douglas County-based Liberty Interactive (Nasdaq: QVCA) said it's buying the 61.8 percent portion of Florida-based HSN (Nasdaq: HSNI) it doesn't own in an all-stock deal valued at $2.1 billion.
"The addition of HSN will enhance QVC’s position as the leading global video eCommerce retailer. Every year they together produce over 55,000 hours of shoppable video content and have strong positions on multiple linear channels and OTT platforms," ,” said Greg Maffei, Liberty Interactive president and CEO, in a statement.
HSN (Home Shopping Network) is based in St. Petersburg, Florida, and owns brands including including Ballard Designs, Frontgate, Garnet Hill, Grandin Road and Improvements. The company's headquarters will remain in St. Petersburg after the deal is finalized.
Read more at the Denver Business Journal: http://bit.ly/2uO8UEz