This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

QVC Group To Be Launched As New Tracking Stock Of Liberty Interactive Corporation

WEST CHESTER, Pa., Oct. 10, 2013 /PRNewswire/ -- Liberty Interactive Corporation ("Liberty") (Nasdaq: LINTA, LINTB, LVNTA, LVNTB) announced today that it plans to create a QVC Group tracking stock as part of a recapitalization of the Liberty Interactive Group tracking stock.

The QVC Group class of common stock will track the value of QVC, Inc. and Liberty's approximate 38% interest in HSN, Inc., along with cash and certain liabilities. The QVC Group tracking stock is intended to provide greater clarity regarding QVC's strong operating metrics, such as its leadership in mobile commerce and pioneering efforts in establishing social shopping platforms for its customers.  The other assets and liabilities that currently comprise the Liberty Interactive tracking stock, including Liberty's e-commerce companies (such as Provide Commerce, Backcountry.com and Bodybuilding.com), will be attributed to a new Liberty Digital Commerce tracking stock.  In the recapitalization, holders of Liberty Interactive Group tracking stock will receive a distribution of the new Liberty Digital Commerce tracking stock, and the name of the Liberty Interactive Group tracking stock will be changed to the QVC Group tracking stock.  The recapitalization is subject to customary closing conditions, including the receipt of the requisite stockholder approvals and certain tax opinions.

"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.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,932.86 -27.71 -0.16%
S&P 500 1,973.28 -5.06 -0.26%
NASDAQ 4,430.4010 -19.1630 -0.43%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs