QVC’s owner buys Home Shopping Network for 105 million easy payments of $19.99 (or $2.1 billion in stock)

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

NEW YORK — QVC’s corporate owner is buying longtime rival Home Shopping Network for 105 million easy payments of $19.99.

Actually, the deal’s $2.1 billion price tag is being done in stock, not cash, and it encompasses the 61.8% of HSN that Liberty Interactive, the owner of QVC, does not already own.

“The addition of HSN will enhance QVC’s position as the leading global video eCommerce retailer,” said Greg Maffei, CEO of Liberty Interactive. “Every year they together produce over 55,000 hours of shoppable video content.”

The deal is expected to be completed in the final three months of this year.

The two television shopping networks have been seeing their sales steadily decline in recent years with the rise of online shopping. But QVC still did $8.7 billion in sales last year, while HSN has revenue of $3.5 billion.

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.