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
Greg Maffei, President and Chief Executive Officer
Revenue Increase US$ 10.219 billion (2016)[2]
Decrease US$1.011 billion (2016)[2]
Decrease US$473 million (2016)[2]
Total assets Decrease US$14.357 billion (2016)[2]
Total equity Decrease US$4.860 billion (2016)[2]
Owner John C. Malone[3]
Liberty Media
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

1998-2000

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.co], 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]

2000-2017

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 that it would purchase the remaining 62% of HSN stock that it didn't already own, 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

and interests in:

See also

References

  1. ↑ The postal designation of Englewood, a city in neighboring Arapahoe County, is used in the company’s mailing address.
  2. 1 2 3 4 5 6 "Liberty Interactive Corp". Google Finance.
  3. ↑ http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/telecoms/12010847/Liberty-Global-snaps-up-Cable-and-Wireless-in-3.6bn-deal.html
  4. ↑ (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.
  5. ↑ (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.
  6. ↑ "Liberty Media, TCI Form Internet Group - InternetNews.". www.internetnews.com. Retrieved 2015-04-24.
  7. ↑ Doan, Amy (August 26, 2000). "Liberty Is Sweet on Interactive TV". Forbes. Retrieved March 5, 2009.
  8. ↑ . (via PR Newswire). Retrieved February 24, 2009.
  9. ↑ "Liberty Interactive splits into cable shopping, e-commerce groups" (Press release). Reuters. 6 October 2014.
  10. ↑ "QVC to Acquire Rival HSN for More Than $2 Billion" (Press release). Wall Street Journal. 6 July 2017.
  11. ↑ "QVC buying longtime rival Home Shopping Network in deal valued at $2.1 billion" (Press release). CNBC. 6 July 2017.
  12. ↑ Isidore, Chris (6 Jul 2017). "QVC buying rival Home Shopping Network". CNN Money. Retrieved 6 July 2017.
  13. ↑ Bond, Shannon; Kwan Yuk, Pan (July 6, 2017). "Liberty to combine QVC and HSN in $2.1bn deal". Financial Times. United Kingdom. Retrieved July 9, 2017.
  14. ↑ . Retrieved July 7, 2017.
  15. ↑ . Retrieved July 7, 2017.
  16. ↑ . Retrieved July 7, 2017.
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