ValueVision Media Announces Record Date for Special Meeting of Shareholders
January 17 2014 - 3:47PM
Marketwired
ValueVision Media Announces Record Date for Special Meeting of
Shareholders
MINNEAPOLIS, MN--(Marketwired - Jan 17, 2014) - ValueVision
Media, Inc. (NASDAQ: VVTV) ("ValueVision"), a multichannel
electronic retailer via TV, Internet and mobile, today announced
that it has established February 13, 2014 as the record date for
the previously announced March 14, 2014 special meeting of
ValueVision shareholders to consider and vote upon the proposals
put forth by Clinton Group and its affiliates ("Clinton") in the
notice letter to ValueVision, dated November 4, 2013 (as filed with
Clinton's Schedule 13D on November 6, 2013).
Questions regarding the solicitation may be addressed to
ValueVision or to ValueVision's proxy solicitors, Innisfree M&A
Incorporated, 501 Madison Avenue, New York, NY 10022 by mail or
toll-free at (877) 456-3442.
Jefferies LLC is acting as financial advisor and Simpson
Thacher & Bartlett LLP and Barnes & Thornburg LLP are
acting as legal advisors to ValueVision.
About ValueVision Media
ValueVision Media, Inc. is a multichannel retailer that enables
customers to shop and interact via TV, phone, Internet and mobile
in the merchandise categories of Home & Consumer Electronics,
Beauty, Health & Fitness, Fashion & Accessories, and
Jewelry & Watches. ValueVision is transitioning its consumer
brand to ShopHQ from ShopNBC over the balance of fiscal 2013.
ValueVision's television network reaches over 86 million cable and
satellite homes and is also available nationwide via live streaming
at www.shophq.com. Please visit www.shophq.com/ir for more investor
information.
Forward-Looking Information
This release may contain certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Any statements contained herein that are not statements of
historical fact may be deemed forward-looking statements. These
statements are based on management's current expectations and
accordingly are subject to uncertainty and changes in
circumstances. Actual results may vary materially from the
expectations contained herein due to various important factors,
including (but not limited to): consumer preferences, spending and
debt levels; the general economic and credit environment; interest
rates; seasonal variations in consumer purchasing activities; the
ability to achieve the most effective product category mixes to
maximize sales and margin objectives; competitive pressures on
sales; pricing and gross sales margins; the level of cable and
satellite distribution for our programming and the associated fees;
our ability to establish and maintain acceptable commercial terms
with third-party vendors and other third parties with whom we have
contractual relationships, and to successfully manage key vendor
relationships; our ability to manage our operating expenses
successfully and our working capital levels; our ability to remain
compliant with our long-term credit facility covenants; our
ability to successfully transition our brand name; the market
demand for television station sales; our management and information
systems infrastructure; challenges to our data and information
security; changes in governmental or regulatory requirements;
litigation or governmental proceedings affecting our operations;
significant public events that are difficult to predict, or other
significant television-covering events causing an interruption of
television coverage or that directly compete with the viewership of
our programming; and our ability to obtain and retain key
executives and employees. More detailed information about those
factors is set forth in the Company's filings with the Securities
and Exchange Commission, including the Company's annual report on
Form 10-K, quarterly reports on Form 10-Q, and current reports on
Form 8-K. You are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date of this
announcement. The Company is under no obligation (and expressly
disclaims any such obligation) to update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise.
Important Information
This release may be deemed to be solicitation material in
respect of the solicitation of proxies from shareholders in
connection with one or more meetings of the Company's shareholders,
including a special meeting of shareholders. The
Company will file with the Securities and Exchange Commission
("SEC") and provide to its stockholders a proxy statement and a
WHITE proxy card in connection with any such shareholder
meeting. The Company, its directors and certain of its
executive officers and employees may be deemed to be participants
in the solicitation of proxies from shareholders in connection with
any such shareholder meeting. Information concerning the
interests of these directors and executive officers in connection
with the matters to be voted on at any such meeting will be
included in the proxy statement filed by the Company with the SEC
in connection with any such meeting. In addition, the Company
files annual, quarterly and special reports, proxy and information
statements, and other information with the SEC. Any proxy
statement, any other relevant documents and any other material
filed with the SEC concerning the Company will be, when filed,
available free of charge at the SEC website at http://www.sec.gov.
SHAREHOLDERS ARE URGED TO READ CAREFULLY ANY SUCH PROXY STATEMENT
FILED BY THE COMPANY AND ANY OTHER RELEVANT DOCUMENTS FILED WHEN
THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION, INCLUDING INFORMATION WITH RESPECT TO
PARTICIPANTS.
Contacts Media: Dawn Zaremba ShopHQ dzaremba@shophq.com (952)
943-6043 O Joele Frank / Tim Lynch / Jed Repko Joele Frank,
Wilkinson Brimmer Katcher (212) 355-4449 Investors: David Collins /
Eric Lentini Catalyst Global LLC vvtv@catalyst-ir.com (212)
924-9800 O (917) 734-0339 M Arthur Crozier / Scott Winter /
Jonathan Salzberger Innisfree M&A Incorporated (212)
750-5833
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