QVC Group
| Company type | Public |
|---|---|
| Industry | Media conglomerate, Retail |
| Founded | September 28, 1998 |
| Founder | Liberty Media |
Key people | John C. Malone (Chairman), David Rawlinson II (President and CEO) |
| Products | QVC, HSN, Cornerstone Brands, Brit + Co, FTD, giggle, ILG, Liberty Broadband, LendingTree, Quid |
| Owner | John C. Malone (majority voting rights) |
QVC Group (previously known as Qurate Retail, Inc. and Qurate Retail Group) is a U.S.-based media conglomerate under the control of chairman John C. Malone, who possesses the majority of voting rights.
Formation in 1998 under Liberty Media
Initially part of Liberty Media, Liberty Interactive was separated on September 28, 1998, to leverage emerging technologies such as set-top boxes enabling interactive content. At inception, the company held an 86% stake in TCI Music Inc. (NASDAQ: TUNE/TUNEP). Early in 1999, Lee Masters—previously President and CEO of E!—assumed the role of CEO, with Bruce Ravenel appointed as CTO.
On September 10, 1999, TCI Music was rebranded as Liberty Digital Inc. (NASDAQ: LDIG), listing on NASDAQ’s National Market following Liberty Media’s exchange of internet content assets, interactive television properties, and $150 million in cash for TCI Music shares. Masters valued the new entity at $1 billion, with $650 million contributed from Liberty Media’s interactive division.
In 1999, Liberty Digital recorded a $244 million loss on revenues of $66 million due to investments in internet startups including HomeGrocer, drugstore.com, TiVo Corporation, and iVillage. The company also acquired a 50% interest in the Game Show Network to enhance its interactive capabilities.
On December 17, 1999, TCI Satellite Entertainment Inc. (TSAT), headquartered in Englewood, Colorado, announced Liberty Media’s $300 million investment in preferred stock of TCI Satellite in exchange for Sprint PCS holdings. This transaction led to the creation of a joint venture with Liberty Media owning 90% and TCI Satellite holding 10%, aimed at expanding satellite-related services and internet content ventures.
Divestitures and Spin-offs
In 2004, IAC/Interactive declared plans to spin off its travel platform Expedia into an independent company, with Barry Diller maintaining chairmanship over both entities. This separation was finalized in 2005.
November 2007 saw Liberty Media divest four significant divisions—HSN, Ticketmaster, Interval (vacation and timeshare), and LendingTree—each becoming publicly traded organizations. IAC retained emerging online businesses including Ask.com, Evite, Match.com, Vimeo, Citysearch, and Zwinky. Barry Diller continued his leadership across all spun-off firms.
In 2010, Liberty Media executed spin-offs creating two distinct companies: Liberty Starz and Liberty Capital.
October 2014 marked the separation of BuySeasons along with its TripAdvisor holdings into a new entity named Liberty TripAdvisor Holdings.
By 2016, Liberty Interactive completed divestitures involving CommerceHub and consolidated its stakes in Expedia and Bodybuilding.com under Liberty Expedia Holdings.
Acquisitions and Sales during the 2010s
In July 2014, Provide Commerce (owner of ProFlowers) was sold by Liberty Interactive to FTD in return for an equity position in FTD.
Later that year in October 2014, the board authorized dividing the company into two publicly listed businesses: QVC Group concentrating on retail shopping operations and Liberty Digital Commerce operating as Liberty Ventures Group.
April 2017 saw Liberty Interactive purchase Alaskan cable operator GCI. Subsequently, on July 6, 2017, it announced a $2.1 billion all-stock transaction to acquire the remaining 62% stake in HSN at $40.36 per share.
Toward the end of 2017, plans were unveiled to spin off cable assets and non-retail ventures into a separate entity called Liberty Ventures while rebranding the core company as QVC Group. This restructured organization would encompass QVC, HSN, Cornerstone Brands, and Zulily.
On March 1, 2018, Liberty Interactive officially changed its name to Qurate Retail Group to better align with its retail-centric business model.
2020s
In July 2021, Qurate Retail revealed that David Rawlinson II would take over as president and CEO from Mike George, effective October 1, marking a significant shift in top management.
By May 2023, the Qurate Retail Group was confronted with the threat of being removed from Nasdaq following an 80% drop in its stock value over the preceding year. In response, the company divested its Zulily division to Regent, L.P., representing a strategic effort to improve its financial standing. Nevertheless, by October 2023, CreditRiskMonitor reported that Qurate Retail Group was approaching a potential Chapter 11 bankruptcy filing, underscoring substantial difficulties within its operational framework and market positioning.
On February 21, 2025, the organization underwent a rebranding to become QVC Group, reflecting a renewed focus on its primary retail brands.
Activities
- QVC Group: QVC, Inc., HSN, Cornerstone Brands
- Holdings include: Brit + Co, FTD, giggle, ILG, Liberty Broadband, LendingTree, Quid