Liberty Interactive has completed its acquisition of the remaining shares of HSN in a deal announced this past July.
Greg Maffei, Liberty Interactive president and CEO, said the combination will enhance QVC’s position as the leading global video e-commerce retailer while also providing meaningful synergies.
Mike George, president and CEO of QVC, added, “The combination of QVC, HSNi and Zulily will enhance the customer experience, accelerate innovation, strengthen our brands and allow us to leverage our resources and talents.”
Prior to the deal, Liberty Interactive previously owned 38.2% of HSN, which now becomes a wholly-owned subsidiary of Liberty.
In October, QVC announced a reorganization to the company’s management team under what will be known as the QVC Group. In the QVC business unit, Steve Hofmann will serve as president of QVC and Mike Fitzharris will serve as president of HSN.