Liberty Interactive Update on QVC Group Tracking Stock
July 30 2014 - 6:59AM
Business Wire
Liberty Interactive Corporation ("Liberty") (Nasdaq: LINTA,
LINTB, LVNTA, LVNTB) today provided the following update on the
proposed QVC Group tracking stock:
Liberty Interactive still plans to create the QVC Group tracking
stock, which will be comprised of its interests in QVC and HSN. In
light of the pending Provide Commerce transaction, and other
factors, Liberty is reevaluating the optimal structure and best
alignment of the Liberty Digital Commerce Group assets. As a
result, the timing of the transition to the QVC Group has been
delayed.
About Liberty Interactive
Corporation
Liberty Interactive Corporation operates and owns interests in a
broad range of digital commerce businesses. Those interests are
currently attributed to two tracking stock groups: Liberty
Interactive Group and Liberty Ventures Group. The Liberty
Interactive Group (Nasdaq: LINTA, LINTB) is primarily focused on
digital commerce and consists of Liberty Interactive Corporation's
subsidiaries QVC, Provide Commerce, Backcountry.com,
Bodybuilding.com, Celebrate Interactive, CommerceHub and its
interest in HSN. The businesses and assets attributed to the
Liberty Ventures Group (Nasdaq: LVNTA, LVNTB) consists of all of
Liberty Interactive Corporation's businesses and assets other than
those attributed to the Liberty Interactive Group and include its
subsidiary TripAdvisor, its interest in Expedia, and minority
interests in Time Warner and Time Warner Cable.
Forward-Looking
Statements
This press release includes certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements about the proposed QVC Group tracking
stock, the pending Provide Commerce transaction and other matters
that are not historical facts. These forward-looking statements
involve many risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by
such statements, including, without limitation, the satisfaction of
conditions to the proposed QVC Group tracking stock, Liberty’s
reevaluation of the Liberty Digital Commerce tracking stock and
Liberty’s ability to complete the pending Provide Commerce
transaction. These forward-looking statements speak only as of the
date of this press release, and Liberty expressly disclaims any
obligation or undertaking to disseminate any updates or revisions
to any forward-looking statement contained herein to reflect any
change in Liberty's expectations with regard thereto or any change
in events, conditions or circumstances on which any such statement
is based. Please refer to the publicly filed documents of Liberty,
including the most recent Form 10-K and Forms 10-Q, for additional
information about Liberty and about the risks and uncertainties
related to Liberty's business which may affect the statements made
in this press release.
Additional Information
Nothing in this press release shall constitute a solicitation to
buy or an offer to sell shares of Liberty's proposed QVC Group
tracking stock, Liberty Digital Commerce tracking stock or
Liberty's existing common stock. The offer and sale of shares of
the QVC Group or Liberty Digital Commerce tracking stocks will only
be made pursuant to an effective registration statement. Liberty
stockholders and other investors are urged to read the registration
statement to be filed with the SEC, including the proxy
statement/prospectus to be contained therein, because they will
contain important information about the issuance of shares of the
proposed tracking stock. Copies of Liberty's SEC filings are
available free of charge at the SEC's website (http://www.sec.gov).
Copies of the filings together with the materials incorporated by
reference therein will also be available, without charge, by
directing a request to Liberty Interactive Corporation, 12300
Liberty Boulevard, Englewood, Colorado 80112, Attention: Investor
Relations, Telephone: (720) 875-5408.
Participants in a
Solicitation
The directors and executive officers of Liberty and other
persons may be deemed to be participants in the solicitation of
proxies in respect of proposals relating to the approval of the
issuance of the new tracking stock. Information regarding the
directors and executive officers of Liberty and other participants
in the proxy solicitation and a description of their respective
direct and indirect interests, by security holdings or otherwise,
will be available in the proxy materials to be filed with the
SEC.
Liberty Interactive CorporationCourtnee Ulrich, 720-875-5420
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