ShopHQ
| Country | United States |
|---|---|
| Headquarters | Eden Prairie, Minnesota, United States |
| Programming | |
| Language(s) | English |
| Ownership | |
| Owner | EVINE Live, Inc. |
EVINE Live is an American cable, satellite and broadcast television network. The channel is headquartered in Eden Prairie, Minnesota.[1] The home shopping channel's main competitors are HSN (Home Shopping Network) and QVC.
History
ValueVision
ValueVision was originally founded in June of 1990 and began broadcasting in 1991.[citation needed]
In 2000, NBC purchased a share of the company.[2]
ShopNBC/HQ
ValueVision was rebranded as ShopNBC, taking on the use of the entertainment enterprise’s peacock and logo, in June 2001.[3]
Due to economic uncertainty and NBCUniversal's upcoming possible merger with Comcast, reports surfaced that NBC would sell its stake in ValueVision; NBCUniversal formally announced that it would sell its stake back to ValueVision Media in May 2010, which would have forced a change in the channel's name,[4] but the company decided to retain the stake in June 2010 for the time being.[5]
In May 2013 with ValueVision acquiring NBCUniversal's financial stake in the company, ValueVision announced that the network would be renamed ShopHQ.[1] "Mark Cuban's American Dream" in August 2014 then again in October was the first program designed by the new management under the Clinton Group plan to have more celebrity hosts.[6]
EVINE Live
On February 13, 2015, ShopHQ (formerly ShopNBC and ValueVision Media) was rebranded to EVINE Live after the acquisition of an eCommerce product company owning a site called Evine.[7]
Affiliates
- WWDP 46.1 (HD) 46.2 (SD) Boston, Massachusetts; owned by Evine Live
- KFFV 44.1 Seattle, Washington; owned by OTA Broadcasting
- KGBS-CD 19.2 Austin, Texas; owned by Caballero Acquisition, LLC[8]
EVINE Live Inc.
 | |
| Company type | public corporation |
|---|---|
| Nasdaq: EVLV[9] | |
| Industry | Catalog & mail order houses[9] |
| Founded | 1990[9] |
| Headquarters | , US |
Number of locations | 3 (HQ, warehouse, WWDP) |
Key people | Mark Bozek (CEO) Russell Nuce (CSO)[7] |
| Services | Sales |
| Revenue |  $666.65M |
| $.077M | |
| $(2.515)M | |
| Total assets | $233.7M |
| Total equity | $78.208M |
Number of employees | 957[9] |
| Parent | The Clinton Group (control) |
| Website | evine |
| Footnotes / references [9] | |
EVINE Live Inc. EVINE Live Inc. (formerly ValueVision Media, Inc.) is a digital commerce company that formerly operated as ShopHQ, a 24/7 interactive digital shopping and entertainment experience. EVINE Live, known for its television home shopping and on-line retail platforms, is available in 87 million television homes, online at evine.com and via the Company's mobile apps. The Company is focusing on new proprietary products and brands in fashion, beauty, jewelry, home and fitness. Please visit evine.com/ir for investor information.WWDP.
The former ValueVision Media launched its network in 1991 as ValueVision,[citation needed] changing later to ShopNBC after a 2000 NBC 40% investment in VVM in June 2001.[3][2] With the loss of ShopNBC affiliate WNEU, ValueVision bought WWDP in 2003 and affiliated it with ShopNBC.[10] In May 2013, ValueVision announced that it had acquired NBCUniversal's financial stake in the company. In doing so, ValueVision renamed the channel as ShopHQ no later than February 1, 2014. Additionally, the company announced a May 4th quarter profit, the first quarterly profit in seven years.[1]
In February 2014, VVM received a 40% increase on their PNC Bank credit line to comply with their loan agreement made to expand their distribution center.[11]
Clinton Group Inc., an activist hedge fund, started a proxy fight in May 2014 to take over the VVM board based on the overly large board director salaries and poor CEO performance by Keith Stewart.[12] The Clinton Group won four out of the six seat up at the June annual meeting which led to CEO Stewart resigning as CEO and director allowing the group to appoint another director and replace him as CEO with Mark Bozek, former CEO of HSN Inc.[13] "Mark Cuban's American Dream" in August then again in October was the first program designed by the new management under the Clinton Group (CG) plan to have more celebrity hosts.[6]
The CG plan for ValueVision included proprietary brands for the shopping network and a new name to help break away from its image as the third place home shopping channel. ValueVision acquired the assets of Dollars Per Minute (which was formed by Bozek and Russell Nuce in 2011) for stock in 2014, which operated a site called Evine to sell its own brands. In November the company name was changed to EVINE Live Inc., with the introduction of the channel's new name, EVINE Live, coming on February 13, 2015.[7]
References
- ^ a b c Mahoney, Kevin (May 23, 2013). "ValueVision Drops ShopNBC Name, Swings To A Profit". Twin Cities Business. Retrieved June 19, 2013.
- ^ a b "Valuevision vamping NBC brand". Broadcasting & Cable. February 23, 2001. Retrieved June 24, 2010.
- ^ a b "ValueVision network becomes ShopNBC". Broadcasting & Cable. March 12, 2001. Retrieved June 24, 2010.
- ^ NBC to Sell Stake in ShopNBC, MultiChannel News, May 20, 2010
- ^ Brooks Suzukamo, Leslie (June 24, 2010). "NBC holding on to ValueVision stake, for now". St. Paul Pioneer Press. Retrieved June 25, 2010.
- ^ a b Halter, Nick (October 6, 2014). "Mark Cuban's other TV show brings him back to Minnesota". Minneapolis / St. Paul Business Journal. American City Business Journals. Retrieved February 13, 2015.
- ^ a b c Kennedy, Patrick & Kumar, Kavita (November 18, 2015). "ValueVision to change name to EVINE Live". Star Tribune. Retrieved 7 February 2015.
{{cite news}}: CS1 maint: multiple names: authors list (link) - ^ "Stations for Network - ShopHQ". Rabbit Ears.info. Retrieved February 14, 2015.
- ^ a b c d e f "EVLV Profile". Yahoo! Finance. Yahoo. Retrieved February 13, 2015.
- ^ "ValueVision to acquire Boston's WWDP television station". Boston Business Journal. 2003-01-13. Retrieved 2007-10-26.
{{cite news}}: Italic or bold markup not allowed in:|publisher=(help) - ^ Tascarella, Patty (February 6, 2014). "PNC ups retailer's credit facility". Pittsburgh Business Times. American City Business Journals. Retrieved February 13, 2015.
- ^ Halter, Nick (May 30, 2014). "Hedge fund, ShopHQ parent trade broadsides as proxy fight looms". Minneapolis / St. Paul Business Journal. American City Business Journals. Retrieved February 13, 2015.
- ^ Halter, Nick (June 23, 2014). "ValueVision CEO resigns after board fight; replaced by competitor's ex-CEO". Minneapolis / St. Paul Business Journal. American City Business Journals. Retrieved February 13, 2015.
External links
- Official website
- EVINE Live, Inc., corporate website