The corporate owner of QVC and Home Shopping is buying longtime rival Home Shopping Network.
The companies announced on Thursday that they will merge as Liberty Interactive acquires the 61.8 percent of HSN that it does not already own. The all-stock deal is worth $2.1 billion.
“We are excited to announce the acquisition of HSNi,” said Liberty Interactive president and CEO Greg Maffei. “The addition of HSN will enhance QVC’s position as the leading global video eCommerce retailer. Every year, they together produce over 55,000 hours of shoppable video content and have strong positions on multiple linear channels and OTT platforms.”