QVC wants to buy HSN. But last year when Barry Diller spun off HSN from his company, IAC, he threw a monkey wrench into into the master plan. John Malone, emperor of QVC's parent company Liberty Media, had a bit of a disagreement with Barry Diller over the whole spin off deal (Doncha love it when billionaires get into a pissing match with each other? It's just so relatable.) The eventual settlement restricted Liberty from buying more than 5% more stock in HSN until May 2010.
Liberty Media has recently said on the record that they are the "natural owner" of HSN due to having the most "synergies" (who knew they were so metaphysical). And they just upped their stake in HSN from about 30% to 33% of the company--think of it as Easy Pay number one. Only a dollar a day, y'all!
We might have gleaned some insight about the situation at HSN's first annual shareholders' meeting since being spun off from Barry Diller's company, but they refused to allow media inside. Apparently most publicly traded companies allow the business media to cover their meetings even though they aren't technically required to do so. The local Tampa Bay media is not happy. They are even making veiled threats to no longer cover HSN or its celebrity pitchmen since they also aren't "required" to do it. I'm just guessing here, but feuding with the media is probably not the best PR move.
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Say it ain't so! QVC's idea of a sale is $3 off an item. And I dread to think how they would revamp HSN--nothing but dull Denim and Co. and soulless Susan Graver. (No offense to anyone who enjoys those labels.) Oh, this is very troubling news indeed. --Q.C.
ReplyDeleteI hope this doesn't come to pass should QVC and HSN become (in effect) one big monopoly. I LIKE the differences, the diverse products, the different styles of each of the two. I don't know that one big TV shopping monolyth would be a good thing for the viewers/shoppers.
ReplyDeleteI prefer the differences too. There are different product lines I enjoy on each & different annoyances on each. Just having one conglomerate would not give me anywhere to flee if annoyed by the other channel.
ReplyDeleteWow, now we can get more Quacker Factory!!!
ReplyDeleteWOW! WHY WOULD QVC WANT TO BUY HSN? I THINK QVC IS MUCH MORE SUCCESSFUL. I LOVE THEIR ALL DAY, EVERYTHING ON EASY PAY DEALS (THAT HSN NEVER HAVE). THE QUALITY OF THEIR MERCHANDISE IS SOOO MUCH BETTER THAN HSN. THE STAGE SET AT HSN LOOKS LIKE IT WAS DESIGNED FOR THE HIGH SCHOOL PLAY. THEIR HOST(S) DON'T MEASURE UP TO QVC HOST(s). HSN JEWELRY IS SO CHEAP LOOKING. COME ONE, CAN YOU IMAGINE SUZANNE SOMERS WORKING FOR QVC? THE WOMAN MERCHANDISE SCREAMS FAKE! COLEEN WITH THE GIGGLES, BOBBI RAY LOOKING LIKE SHE HAS NEVER HEARD OF SPF. SHANNON WITH THE CROOKED MOUTH(NOT TO MENTION, SHE OWNS 500 GATEWAY COMPUTERS). THEM WORKING FOR QVC??? C'MON
ReplyDeleteQVC service suck due it's disastrous shipping taxes, i hate them so much.
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