QVC Buying HSN for BILLIONS

posted by Kat - 

QVC is shelling out two-point-one billion dollars to acquire  its rival home shopping network HSN. And this is no rumor - QVC's parent  company, Liberty Interactive Corporation of Englewood, Colorado  confirmed the plan yesterday.

The move isn’t exactly a shock as watchers point out that Liberty  already had a 38% stake in the St. Petersburg, Florida-based Home  Shopping Network. News of the acquisition sent HSN shares soaring this  morning.

HSN has six-thousand employees, with 25-hundred workers in St. Petersburg – what’s happening with them remains to be seen.

Source: Forbes

Kat

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