The HSN's day might be numbered…
Rumors started yesterday that Liberty Media official John Malone might spin his two of his companies' stocks and create an "asset-backed" stock out of the third unit, Liberty Interactive, which houses the home shopping network QVC. The plan would be to combine QVC with its rival HSN.
Malone attempted this same scenario in 2007 when HSN was part of Barry Dillers's IAC/InterActive empire. The only thing that stopped Malone was valuation.
Liberty Media president and CEO Greg Maffei spoke on the matter in a conference call yesterday, saying that at the moment, no merger is forthcoming: "The market doesn't believe us; watch August come and go. There's no plan or intention to do anything other than to keep our options open."
Photo: itvt.comSee the Top Ten Summer 2016 Trends for Women Over 40