Liberty have announced its plan to recapitalize its Liberty Interactive Group tracking stock into two new tracking stocks, one (currently the Liberty Interactive common stock) to be renamed the QVC Group common stock and the other to be designated as the Liberty Digital Commerce common stock.
Liberty’s e-commerce companies (that include Provide Commerce, Backcountry.com and Bodybuilding.com), will be attributed to a new Liberty Digital Commerce tracking stock. The QVC Group, which is currently known as the Liberty Interactive Group, would have attributed to it Liberty’s subsidiaryQVC, Inc. and its approximate 38% interest in HSN, Inc., along with cash and certain liabilities.
“As the global leader in video and e-commerce retail, QVC is defining the future of retail at a time of significant industry change,” says Mike George, President & CEO of QVC, Inc. “Our leading e-commerce and mobile platforms enable us to deepen relationships with our customers, who are among the most loyal in retail, while engaging new customers as well. Our ability to connect with customers across multiple platforms and around the world enables us to deliver positive and consistent financial results.”