CrimeOct 07, 2025
Men Who Posed as Utility Workers Found Guilty in Jeweler’s MurderCarlos Jose Hernandez and Joshua Zuazo face life in prison for the October 2024 murder of 72-year-old Detroit-area jeweler Hussein Murray.
MajorsJul 07, 2017
QVC Parent to Buy HSN in $2.6B Deal
Liberty Interactive is acquiring the 62 percent of HSN Inc. that it doesn’t already own.
Liberty Interactive Corp., parent company of West Chester, Pennsylvania-based home shopping channel QVC, is buying rival station HSN in a deal valued at nearly $3 billion.
Englewood, Colo.--QVC parent company Liberty Interactive Corp. announced Thursday that it is buying out rival home shopping network HSN Inc. in a deal valued at $2.6 billion.
Liberty Interactive already owns 38.2 percent of HSNi. Under the terms of the agreement, it will acquire the remaining 61.8 percent stake, making HSN a wholly owned subsidiary.
The long-talked-about merger brings together two rivals in the home shopping arena that sell a combined $800 million-plus in jewelry and watches annually, according to National Jeweler’s latest State of the Majors report.
And it comes at a time when the home shopping networks, like many brick-and-mortar retailers, are struggling to compete with online players like Amazon.
“There’s so much change going on in retailing, and by combining forces our ability to serve the customers at that much higher a level, to create new digital platforms, new interactive television platforms (improves),” QVC Inc. President and CEO Mike George said on MSNBC Thursday. “Now we join forces, and we compete that much more strongly in the broader retail marketplace.”
The QVC-HSN merger is an all-stock transaction; HSNi shareholders will receive 1.65 shares of QVC Group common stock for each share of HSNi stock that they own.
Liberty Interactive already owns 38.2 percent of HSNi. Under the terms of the agreement, it will acquire the remaining 61.8 percent stake, making HSN a wholly owned subsidiary.
The long-talked-about merger brings together two rivals in the home shopping arena that sell a combined $800 million-plus in jewelry and watches annually, according to National Jeweler’s latest State of the Majors report.
And it comes at a time when the home shopping networks, like many brick-and-mortar retailers, are struggling to compete with online players like Amazon.
“There’s so much change going on in retailing, and by combining forces our ability to serve the customers at that much higher a level, to create new digital platforms, new interactive television platforms (improves),” QVC Inc. President and CEO Mike George said on MSNBC Thursday. “Now we join forces, and we compete that much more strongly in the broader retail marketplace.”
The QVC-HSN merger is an all-stock transaction; HSNi shareholders will receive 1.65 shares of QVC Group common stock for each share of HSNi stock that they own.
QVC Inc. President and CEO Mike George | Mike George QVC Inc.
The acquisition, which is subject to regulatory approval and the approval of the majority of HSNi’s stockholders, is expected to be completed by the fourth quarter 2017.
Also later this year, Liberty Interactive will spin off QVC and flash-sale site Zulily, which it acquired in 2015, to form the QVC Group Inc. HSNi will become part of the group. HSNi includes HSN (the Home Shopping Network) and Cornerstone, which is comprised of home and lifestyle brands Ballard Designs, Frontgate, Garnet Hill, Grandin Road and Improvements.
Even after the merger is complete, HSNi will remain headquartered in St. Petersburg, Florida, but be headed by George, who works out of QVC’s headquarters in West Chester, Pennsylvania. HSN has been without a CEO since Mindy Grossman left the company in late May.
Both QVC and HSN were on National Jeweler’s 2016 list of $100 Million Supersellers. QVC ranked No. 11 with an estimated $626 million in watch and jewelry sales in 2015, while HSN Inc. was at No. 26 with an estimated $214 million in sales.
According to a presentation the companies made to shareholders on Thursday, jewelry currently accounts for a nearly equal percentage of the product offerings at both networks; 8 percent at HSN and 9 percent at QVC.
More on Majors
The Latest
CollectionsOct 07, 2025
Jessica McCormack Looks to Sea Spirits for ‘Tempest’ CollectionThe brand’s first high jewelry collection, “Tempest” plays with movement while calling to mind the folklore of the sea.
SourcingOct 07, 2025
Columbia Gem House Announces ‘Opals for Outback Heroes’ FundraiserProceeds from its jewelry raffle will go to a volunteer-run fire and rescue group in the Lightning Ridge area of New South Wales, Australia.
Brought to you by
JA New York Fall Is Right Around the CornerThe upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.
WatchesOct 06, 2025
This Fall, Citizen’s Forecast Calls for RainCitizen’s new “Rainell” women’s watch has a raindrop-shaped case and is available with a silver-, gold-, purple-, or green-colored dial.
Weekly QuizOct 02, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsOct 06, 2025
The ‘Rolex That Made Rolex’ Heads to Auction at Sotheby’s The “Mercedes Gleitze Rolex Oyster,” named for the British endurance swimmer who made it famous, will go up for sale next month.
GradingOct 06, 2025
GIA India Names Former De Beers Exec as New Managing DirectorAmit Pratihari was previously the managing director of De Beers India and Forevermark India.
SourcingOct 06, 2025
SoCal 24 Karat Club Integrates Into Diamond Club West CoastMembers of the Jewelers 24 Karat Club of Southern California will gain access to expanded services, resources, and connections, DCWC said.
TrendsOct 03, 2025
Selena Gomez, Benny Blanco Tie the Knot Wearing Diamonds, White MetalsGomez’s jewelry included Tiffany & Co. drop-style earrings while Blanco stacked diamonds from Jacob & Co. on his wrist.
GradingOct 03, 2025
Grading Lab HRD Antwerp Names New CEODiamond industry banking veteran Paul De Wachter will take on the role in January 2026.
TrendsOct 03, 2025
Piece of the Week: Kallati’s Pink Sapphire RingTaylor Swift flaunts an Elizabeth Taylor-esque gemstone in promo for her new album, “The Life of a Showgirl.”
CollectionsOct 02, 2025
Boucheron Debuts Cuffs Crafted With 3D-Printed SandIts “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.
CrimeOct 02, 2025
$1M in Jewelry Stolen in Northern California Smash and Grab Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.
TrendsOct 02, 2025
Amanda’s Style File: October’s Colorful ShowThe month’s birthstones, tourmaline and opal, complement the palette of autumn.
ColumnistsOct 01, 2025
Peter Smith: Why Vendor Success Starts With Self-ReflectionSmith shares the importance of looking at your company with openness and honesty to identify opportunities you may be missing.
EditorsOct 01, 2025
Playing Favorites: The Best Jewelry From VicenzaoroAssociate Editor Natalie Francisco visited Italy to spot jewelry trends at the September Vicenzaoro show and share her top finds.
SurveysOct 01, 2025
Consumer Confidence Hits 5-Month Low in September Respondents were concerned about job availability and rising prices.
SourcingOct 01, 2025
Gemfields’ H1 Revenue Falls 47%Its latest interim financials revealed a challenging first half due in part to production troubles at its mines.
MajorsSep 30, 2025
Pandora CEO to Retire in 2026, Hand Reins to CMO Alexander Lacik has led Pandora since 2019. Berta de Pablos-Barbier will succeed him, the first woman to head the company.
CrimeSep 30, 2025
2 Suspects Charged in $300K Sleight-of-Hand Jewelry Store ScamTwo men allegedly used counterfeit bills to purchase luxury watches and jewelry from a North Carolina jeweler.
CollectionsSep 30, 2025
Billie Eilish, Finneas Partner with John HardyThe “Lovestruck” collection, designed with the Academy and Grammy award-winning siblings, is the brand’s first lab-grown diamond offering.
IndependentsSep 30, 2025
Spinelli Kilcollin Announces Residency in DallasThe brand, celebrating its 15th anniversary, has popped up at Market, a luxury fashion destination in Highland Park Village.
IndependentsSep 29, 2025
Nina Pugliese, Longtime Henne Jewelers Employee, Dies at 65She was remembered as a creative and generous woman of faith, who also had a sweet tooth.
TrendsSep 29, 2025
Amanda’s Style File: Ear FocusMove over neck mess, the ear story is the way to make a layering statement today.
IndependentsSep 29, 2025
Mark Henry Jewelry to Debut in CanadaThe New York-based brand is set to launch a limited-time offering for the holiday season at Holt Renfrew in Toronto.
MajorsSep 29, 2025
Overnight Releases New Bridal CatalogThe “Volume 7” bridal catalog features best-selling engagement rings, trending styles, and a new section highlighting anniversary bands.
