Video-buying community QVC and the Residence Purchasing Network will merge in an effort to higher compete in opposition to Amazon and Walmart, as more shoppers stop watching cable TV and do their shopping on-line. Denver-based mostly Liberty is to be renamed QVC Group after the deal’s scheduled closing later this 12 months. “The elevated scale of this mix will permit us to extra effectively compete, we think, in a changing and evolving retail and digital surroundings,” Liberty CEO Greg Maffei said in the name.
As the system also needed to speak with the Burroughs mainframe, it used a serial connection to speak with the web utility. HSN was an early adopter of an Interactive Voice Response ( IVR ) system for order entry. Liberty Interactive shares have been down more than 1 p.c.
Both QVC, which is especially dependent on women’s clothes, and HSN, which sells more electronics and operates the Cornerstone group of retail brands, have lately confronted weak sales and have reduce jobs because the three QVC and two HSN channels confronted stiff competition , particularly from the retailing juggernaut of Amazon.
The 2 television procuring networks have been seeing their sales steadily decline in recent times with the rise of online procuring. In what appeared to many to be an inevitable merger, The House Buying Community (HSN), based in St. Petersburg, Florida, has sold itself to its essential competitor, Liberty Interactive, which owns QVC.
HSN’s sales declined 3 p.c final year, while QVC’s have slowed. Buying here is a lot easier and fun with wide selection of products at worth for money prices. Allen & Firm is serving as financial advisor and Baker Botts LLP is serving as legal advisor to Liberty Interactive.