Liberty Media chairman John Malone called Home Shopping Network “a fairly obvious potential acquisition for QVC” on Tuesday, confirming that Liberty would like to combine the two electronic retailers.
In court to pitch for approval of the latest in a series of business split-offs, Malone confirmed what the market began speculating about last year when Liberty announced the transactions. Cash-cow QVC would form the core of Liberty if the split-offs are implemented. Liberty already owns 33 percent of rival Home Shopping Network and would like to put the two together, Malone said.
“The future for Liberty, post-spin, is essentially to continue to grow its electronic retailing and media business, probably acquire additional assets that fit that model,” Malone said on the witness stand in a Delaware court.
