ValueVision Jumps After Time Warner Deal

Shares of ValueVision (VVTV Quote) jumped 9% in midday trading on Thursday after announcing that Time Warner's (TWX Quote) cable subsidiary would deliver ValueVision's television shopping network to an additional 5 million homes.

Terms of the deal were not disclosed.

The news sent ValueVision's share up 2 1/8 to 27 1/16. (ValueVision finished up 13/16, or 3%, at 25 3/4.)

Minneapolis-based ValueVision said the agreement would increase its total carriage to approximately 39.8 million households from 34.2 million currently.

"This 5 million gain in households, representing 19% of our base, will have a significant impact on the future revenues of our business," Stuart Goldfarb, vice chairman of ValueVision, said in a statement.

In December, ValueVision signed affiliation agreements with Cox Communications (COX Quote), Charter Communications (CHTR Quote) and Adelphia Communications.