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Liberty Interactive Corporation Announces New QVC Group And Liberty Digital Commerce Trackers, Liberty TripAdvisor Holdings Spin, And LINTA Buyback Results

Stocks in this article: LINTA LINTB LVNTA LVNTB

Liberty Interactive Corporation (“Liberty”) (Nasdaq: LINTA, LINTB, LVNTA, LVNTB) today announced the following:

Attributed to Liberty Interactive:

  • Plan to recapitalize its Liberty Interactive Group tracking stock into two tracking stocks – QVC Group tracking stock (currently Liberty Interactive) and Liberty Digital Commerce Group tracking stock
  • Repurchased $206 million of LINTA shares from August 1 to October 4

Attributed to Liberty Ventures:

  • Plan to spin off Liberty’s ownership interest in TripAdvisor and its BuySeasons business into a new publicly-traded company called Liberty TripAdvisor Holdings

Liberty Interactive Group

Recapitalization

Liberty announced that its board has authorized management to pursue a plan to recapitalize its Liberty Interactive Group tracking stock into two new tracking stocks, one (currently the Liberty Interactive common stock) to be renamed the QVC Group common stock and the other to be designated as the Liberty Digital Commerce common stock. In the recapitalization, record holders of Series A and Series B Liberty Interactive common stock would receive 1 share of the corresponding series of Liberty Digital Commerce common stock for each 10 shares of the renamed QVC Group common stock held by them as of the effective date. Liberty intends to attribute to the Liberty Digital Commerce Group its subsidiaries Provide Commerce, Backcountry.com, Bodybuilding.com, CommerceHub, Right Start, and Evite along with cash and certain liabilities. The QVC Group, which is currently known as the Liberty Interactive Group, would have attributed to it Liberty’s subsidiary QVC, Inc. and its approximate 38% interest in HSN, Inc., along with cash and certain liabilities. Liberty expects that the Series A and Series B Liberty Digital Commerce common stock will trade under the symbols “LDCA” and “LDCB” and that the Series A and Series B QVC Group common stock will trade under the symbols “QVCA” and “QVCB,” in each case, on the Nasdaq Stock Market.

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