Liberty Interactive

Liberty Interactive Corporation
Public
Traded as 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
 • Gregory B. Maffei, President and Chief Executive Officer
Revenue Increase US$ 10.982 billion (2010)[2]
Increase US$ 1.303 billion (2010)[2]
Increase US$ 1.892 billion (2010)[2]
Total assets Decrease US$ 26.600 billion (2010)[2]
Total equity Increase US$ 11.442 billion (2010)[2]
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.[3]

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.[4] 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.[5] 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.[6]

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.[7]

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.[8]

Divisions
  • Provide Commerce (operator of proflowers.com)
  • QVC, Inc.

and interests in:

Other assets

Liberty Interactive is an investor. In addition to its own offerings, the company also owns the stock of several major media and telecommunication companies. As of September 1, 2011,[9] primarily through Liberty Capital unless noted, Liberty has assets of the following companies not listed above:

See also

References

  1. ↑ The postal designation of Englewood, a city in neighboring Arapahoe County, is used in the company’s mailing address.
  2. ↑ 2.0 2.1 2.2 2.3 2.4 2.5 "2010 Form 10-K, Liberty Interactive Corporation". U.S. Securities and Exchange Commission.
  3. ↑ (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.
  4. ↑ (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.
  5. ↑ "Liberty Media, TCI Form Internet Group - InternetNews.". www.internetnews.com. Retrieved 2015-04-24.
  6. ↑ Doan, Amy (August 26, 2000). "Liberty Is Sweet on Interactive TV". Forbes. Retrieved March 5, 2009.
  7. ↑ . (via PR Newswire). Retrieved February 24, 2009.
  8. ↑ "Liberty Interactive splits into cable shopping, e-commerce groups" (Press release). Reuters. 6 October 2014.
  9. ↑ List of Liberty Media assets.

External links