John Malone’s Liberty Interactive Corporation is to create a QVC Group tracking stock as part as part of a recapitalization of the Liberty Interactive Group tracking stock.
The stock will track the value of QVC Inc and Liberty’s 38% interest in HSN Inc.
Liberty’s e-commerce companies that include Provide Commerce, Backcountry.com and Bodybuilding.com, will be attributed to a new Liberty Digital Commerce tracking stock.
“As the global leader in video and e-commerce retail, QVC is defining the future of retail at a time of significant industry change,” said Mike George, President & CEO of QVC, Inc. “Our leading e-commerce and mobile platforms enable us to deepen relationships with our customers, who are among the most loyal in retail, while engaging new customers as well. Our ability to connect with customers across multiple platforms and around the world enables us to deliver positive and consistent financial results.”
According to the just-released 2014 “Internet Retailer Mobile 500,” QVC is the third largest mobile commerce player (up from number five on the 2013 list) and is number two among all multi-category retailers, behind only Amazon.com.
