Qurate Retail Group
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Company type | Public |
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Nasdaq: QVCA, QVCB, LVNTA, LVNTB, NASDAQ-100 Components (QVCA and LVNTA) | |
Industry | Media holding company |
Founded | Spin-off from Liberty Media |
Headquarters | Douglas County, Colorado, United States[1] |
Key people | John C. Malone, Chairman Greg Maffei, President and Chief Executive Officer |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Owner | John C. Malone[3] |
Number of employees | Company and subsidiaries: 24,000 (December 2010)[2] |
Divisions | List of divisions |
Website | http://www.libertyinteractive.com/ |
Liberty Interactive Corporation, commonly referred to as Liberty Interactive, is an American media conglomerate controlled by company Chairman John C. Malone, who owns a majority of the voting shares.
History
Liberty Interactive was originally a division of Liberty Media; on September 28, 1998, Liberty Media announced the formation of Liberty Interactive, a division which would take advantage of new technologies such as set-top boxes to develop interactive programming. The company would own eighty-six percent of TCI Music Inc. (NASDAQ symbol: TUNE/TUNEP). As of January 1, 1999, E! Entertainment President and Chief Executive Officer Lee Masters would become the new company's CEO, and Bruce Ravenel would be Chief Technology Officer.[4]
On September 10, 1999, Liberty Media Group renamed TCI Music to Liberty Digital Inc. (NASDAQ symbol: LDIG), with the new company trading on NASDAQ's National Market tier, after Liberty Media traded most of its Internet content, interactive television assets, and rights to provide AT&T's cable systems with interactive services, plus cash and notes valued at $150 million, for TCI Music stock.[5] Masters, who became Liberty Digital's CEO, told The Wall Street Journal that the new company had a value of $1 billion, $650 million of that from the interactive unit of Liberty Media, which had also used the name Liberty Digital.[6] Liberty Digital lost $244 million with revenue of $66 million in 1999, thanks to investments in struggling Internet businesses homegrocer.com, drugstore.com, TiVo and iVillage. The company bought half of the Game Show Network because of its interactive features.[7]
On December 17, 1999, TCI Satellite Entertainment Inc. (TSAT), based in Englewood, Colorado, announced that Liberty Media was trading its interest in Sprint PCS for $300 million in TCI Satellite preferred stock. A new company, ninety percent owned by Liberty Media and ten percent owned by TCI Satellite, would combine the satellite-related businesses and take advantage of the growing area of Internet content. Liberty Media president and CEO Robert R. Bennett said the deal would benefit stockholders of both companies.[8]
In October 2014, Liberty Interactive announced its board had approved the division of the firm into two trading stocks – one for its shopping business, QVC Group, and another for its digital commerce, Liberty Digital Commerce, which will trade as Liberty Ventures Group.[9]
On July 6, 2017, Liberty Interactive announced it will purchase the remaining 62% of stock it didn't already own of HSN in a $2.1 billion all-stock deal at $40.36 a share. [10][11][12]
In July 2017, Liberty Interactive announced that later that year it would spin off its "cable holdings and other non-retail assets" into the new company Liberty Ventures, with Liberty Interactive to be renamed QVC Group. QVC Group will consist of QVC, HSN, and Zulily.[13]
Divisions
This section needs additional citations for verification. (July 2017) |
- BuySeasons (operator of BuyCostumes.com)
- Evite
- Gifts.com
- HSN[14]
- Provide Commerce (operator of proflowers.com)
- QVC, Inc.[15]
- zulily[16]
and interests in:
See also
References
- ^ The postal designation of Englewood, a city in neighboring Arapahoe County, is used in the company’s mailing address.
- ^ a b c d e f . Google Finance https://www.google.com/finance?q=NASDAQ%3AQVCA&fstype=ii&ei=Fq6SWPCMNdbxugT4gYyoBQ.
{{cite web}}
: Missing or empty|title=
(help) - ^ http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/telecoms/12010847/Liberty-Global-snaps-up-Cable-and-Wireless-in-3.6bn-deal.html
- ^ (Press Release) http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/04-16-1999/0000910826&EDATE= (via PR Newswire). Retrieved March 5, 2009.
- ^ (Press Release) http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/09-10-1999/0001019050&EDATE= (via PR Newswire). Retrieved March 5, 2009.
- ^ "Liberty Media, TCI Form Internet Group - InternetNews". www.internetnews.com. Retrieved 2015-04-24.
- ^ Doan, Amy (August 26, 2000). "Liberty Is Sweet on Interactive TV". Forbes. Retrieved March 5, 2009.
- ^ [1]. (via PR Newswire). Retrieved February 24, 2009.
- ^ "Liberty Interactive splits into cable shopping, e-commerce groups" (Press release). Reuters. 6 October 2014.
- ^ "QVC to Acquire Rival HSN for More Than $2 Billion" (Press release). Wall Street Journal. 6 July 2017.
- ^ "QVC buying longtime rival Home Shopping Network in deal valued at $2.1 billion" (Press release). CNBC. 6 July 2017.
- ^ Isidore, Chris (6 Jul 2017). "QVC buying rival Home Shopping Network". CNN Money. Retrieved 6 July 2017.
- ^ Bond, Shannon; Kwan Yuk, Pan (July 6, 2017). Financial Times. United Kingdom https://www.ft.com/content/98bf8ecc-6260-11e7-8814-0ac7eb84e5f1. Retrieved July 9, 2017.
{{cite news}}
: Missing or empty|title=
(help) - ^ [2]. Retrieved July 7, 2017.
- ^ [3]. Retrieved July 7, 2017.
- ^ [4]. Retrieved July 7, 2017.
External links
- libertyinteractive.com, company's official website
- Business data for Liberty Interactive:
- Media companies of the United States
- Conglomerate companies of the United States
- Holding companies of the United States
- Companies based in Colorado
- Douglas County, Colorado
- Media companies established in 1998
- Holding companies established in 1998
- Companies listed on NASDAQ
- Companies in the Nasdaq-100
- Companies listed on the Nasdaq