Liberty Interactive said it will recapitalize into two tracking stocks: ...
Liberty Interactive said it will recapitalize into two tracking stocks: Liberty Interactive and Liberty Ventures. The Interactive tracking stock group will include QVC, its eCommerce companies, 34 percent of HSN, about $500 million in cash and about $3.1 billion in…
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debt. Liberty Ventures will include Liberty’s stakes in Expedia, TripAdvisor, Time Warner, Time Warner Cable, AOL, Interval Leisure Group, Tree.com, and Liberty’s green-energy investments, as well as about $1.25 billion in cash and $3 billion in debt. Q4 sales at QVC gained 5 percent from a year earlier to $2.6 billion, it said. Aggregate quarterly sales at its eCommerce businesses gained 18 percent to $430 million, it said.