Two longtime rivals, QVC and the Home Shopping Network have agreed to merge as two businesses built around selling over television seek to combat the rise of online shopping.
The companies said Thursday that they have agreed to combine in an all-stock transaction valued at about $2.1 billion. QVC, which is controlled by John Malone’s Liberty Interactive Corp., already owns a 38% stake in HSN.
HSN shareholders will receive 1.65 shares of QVC’s Series A stock for each share of HSN. Based on Wednesday’s closing prices, the companies said the offer values each share of HSN at $40.36, or a 29% premium.
Consolidation here makes sense but realistically the days of people actually tuning into these channels are over once the baby boomers die out! I can’t really imagine a single millennial tuning into this stuff, so QVC better have some tricks up their sleeves...
Lol I agree can't imagine watching something like QVC when I could just scroll through Amazon or something and look at products that way
Two dead companies merging together to take on a millennial dominated market which leans heavily towards online shopping. What could go wrong.
ha, think it's a good short candidate or already fallen too far?
HSN, yes. Since about July of 2015, HSN has been declining rapidly and imo can go down even further. QVC not too sure. It's been climbing back a little but ultimately since 2013 it's been lingering around the same price range. Might be too far down. Who knows though.
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