QVC Group

{{Infobox company

| name = QVC Group

| logo = QVC Group logo.svg

| former_names = Liberty Interactive Corporation (2011–2018)
Qurate Retail Group (2018-2025)

| type = Public

| traded_as = {{ubl|class=nowrap| {{NASDAQ|QVCGA}} (Series A)|{{NASDAQ|QVCGB}} (Series B) }}

| ISIN = {{ubl|{{ISIN|sl=n|pl=y|US74915M1009}}|{{ISIN|sl=n|pl=y|US74915M2098}}}}

| predecessor = Liberty Media

| founded = {{start date and age|1991}}

| hq_location = {{nowrap|Englewood, Colorado, U.S}}

| key_people = {{ubl|Greg Maffei (chairman)|David Rawlinson II (president and CEO)}}

| industry = Media holding company

| revenue = {{nowrap|{{decrease}} {{US$|10.9 billion|link=yes}} (2023)}}

| operating_income = {{increase}} US$590 million (2023)

| net_income = {{increasenegative}} US$−145 million (2023)

| assets = {{decrease}} US$11.4 billion (2023)

| equity = {{decrease}} US$385 million (2023)

| owner = John C. Malone (6.7%)

| num_employees = {{circa|20,300}}

| num_employees_year = 2023

| divisions = List of divisions

| website = {{URL|qvcgrp.com}}

| footnotes = {{cite web|url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1355096/000155837024002032/qrtea-20231231x10k.htm|title=2023 Annual Report (Form 10-K)|publisher= U.S. Securities and Exchange Commission |date=February 28, 2024}}

}}

QVC Group (formerly Qurate Retail, Inc., also known as Qurate Retail Group), is an American media conglomerate controlled by company chairman John C. Malone, who owns a majority of the voting shares.{{update inline|date=February 2024|reason=Malone is no longer the chairman}}

History

=1998 launch by Liberty Media=

File:Liberty Interactive logo.gif

Originally a division of Liberty Media, Liberty Interactive was spun-off by Liberty Media on September 28, 1998, to form its own entity entitled. The division was formed with the purpose of taking advantage of emerging technologies, such as set-top boxes, to develop interactive programming. The company initially owned 86% of TCI Music Inc. (NASDAQ symbol: TUNE/TUNEP). {{As of|1999|January}}, E! President and Chief Executive Officer Lee Masters became the new company's CEO, and Bruce Ravenel became the Chief Technology Officer.{{cite web |url=http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/04-16-1999/0000910826&EDATE= |title=Liberty Media Forms Interactive Venture (Press release) |archive-url=https://web.archive.org/web/20071017205603/http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=%2Fwww%2Fstory%2F04-16-1999%2F0000910826&EDATE= |website=PR Newswire |archive-date=2007-10-17 |url-status=dead |access-date=2019-09-06 }}

On September 10, 1999, TCI Music was renamed Liberty Digital Inc. (NASDAQ symbol: LDIG), with the new company trading on NASDAQ's National Market tier, after Liberty Media traded most of its internet content, interactive television assets, and rights to provide AT&T's cable systems with interactive services, plus cash and notes valued at $150 million, for TCI Music stock.{{cite web |url=http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/09-10-1999/0001019050&EDATE= |title=TCI Music and Liberty Media Complete Transaction (Press release) |website=PR Newswire |access-date=2019-09-06 |archive-url=https://web.archive.org/web/20071017211012/http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=%2Fwww%2Fstory%2F09-10-1999%2F0001019050&EDATE= |archive-date=2007-10-17 |url-status=dead }} Masters, who became Liberty Digital's CEO, told The Wall Street Journal that the new company had a value of $1 billion, $650 million of that from the interactive unit of Liberty Media, which had also used the name Liberty Digital.{{Cite web|title = Liberty Media, TCI Form Internet Group – InternetNews.|url = http://www.internetnews.com/bus-news/article.php/93631/Liberty%20Media%20TCI%20Form%20Internet%20Group.htm|website = www.internetnews.com|access-date = 2015-04-24}} Liberty Digital lost $244 million with revenue of $66 million in 1999, thanks to investments in struggling Internet businesses HomeGrocer, drugstore.com, TiVo Corporation, and iVillage. The company bought half of the Game Show Network because of its interactive features.{{cite news | author = Doan, Amy |title=Liberty Is Sweet on Interactive TV

|url=https://www.forbes.com/2000/08/26/feat.html |work= Forbes |date= August 26, 2000 |access-date= March 5, 2009 }}

On December 17, 1999, TCI Satellite Entertainment Inc. (TSAT), based in Englewood, Colorado, announced that Liberty Media was trading its interest in Sprint PCS for $300 million in TCI Satellite preferred stock. A new company, ninety percent owned by Liberty Media and ten percent owned by TCI Satellite, would combine the satellite-related businesses and take advantage of the growing area of Internet content.{{cite web|url=http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/12-21-1999/0001102058&EDATE=|title=TCI Satellite Entertainment, Inc. Announces Investment By Liberty Media Corporation and Formation of Joint Venture (Press release)|archive-url=https://web.archive.org/web/20110831174521/http://www2.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=%2Fwww%2Fstory%2F12-21-1999%2F0001102058&EDATE=|website=PR Newswire|archive-date=2011-08-31|url-status=dead|access-date=2019-09-06}}

= Spin-offs =

In 2004, IAC/Interactive announced the spin-off of its travel site Expedia into the new company Expedia. Barry Diller remained the head of IAC/Interactive and the chairman of Expedia,{{Cite news|url=https://www.foxnews.com/story/barry-dillers-iac-interactive-to-spin-off-expedia/|title=Barry Diller's IAC/InterActive to Spin Off Expedia|agency=Reuters|date=21 December 2004|work=FOX News|access-date=30 August 2018}} a move that was completed in 2005.{{Cite news|url=https://viewfinder.expedia.com/news/iac-completes-spin-off-of-expedia-inc/|title=IAC/InterActiveCorp (Nasdaq: IACI) today announced the successful completion of the spin-off of Expedia, Inc. to IAC shareholders|date=9 August 2005|work=Viewfinder|access-date=30 August 2018}}

In November 2007, Liberty Media announced four major spin-offs: HSN, Ticketmaster, Interval (vacation and time-share business) and LendingTree. All spun off companies became publicly-traded. IAC retained most of its emerging internet businesses: Ask.com, Evite, Match.com, Vimeo, Citysearch and Zwinky. All spun off units remained headed by Barry Diller.{{Cite news|url=https://www.reuters.com/article/us-iac/iac-to-spin-off-four-units-shares-up-idUSWNAS036220071105|title=IAC to spin off four units, shares up|last=Gershberg|first=Michele|date=5 November 2007|work=Reuters|access-date=30 August 2018}}{{Cite news|url=https://www.nytimes.com/2007/11/06/technology/06diller.html|title=IAC/InterActive to Split Into 5 Companies|last=Fabrikant|first=Geraldine|date=6 November 2007|work=New York Times|access-date=30 August 2018}}

In 2010, Liberty Media announced that it would spin off Liberty Starz and Liberty Capital into separate entities.[https://www.aol.com/2010/06/21/liberty-media-spin-off-liberty-capital-liberty-starz/ Liberty Media Will Spin Off Liberty Capital and Liberty Starz][http://www.libertyinteractive.com/overview/company-history.html company history – Liberty Media]

In October 2014, Liberty Interactive spun off BuySeasons and its stake in TripAdvisor into a new company, Liberty TripAdvisor Holdings.{{Cite news| title = Liberty Interactive files to spin off TripAdvisor stake| work = Reuters| access-date = 2017-09-24| date = 2014-05-06| url = https://www.reuters.com/article/us-libertyinteractive-divestiture/liberty-interactive-files-to-spin-off-tripadvisor-stake-idUSBREA450E320140506}}

In 2016, Liberty Interactive announced that it completed spin off of CommerceHub as a separate company and its interests in Expedia and Bodybuilding.com into a new company, Liberty Expedia Holdings.{{Cite news |date=2016-07-22 |title=Liberty Interactive Corporation Announces Completion of CommerceHub Spin-Off |url=https://www.qurateretail.com/news-media/press-releases/detail/291/liberty-interactive-corporation-announces-completion-of |work=Qurate Retail}}

= 2010s sales and acquisitions =

File:Qurate Retail logo.svg

In July 2014, Liberty Interactive announced it would be selling Provide Commerce (parent of ProFlowers) to FTD in return for an equity stake in FTD.[https://www.bizjournals.com/denver/news/2014/07/30/ftd-to-buy-liberty-interactives-floral-gift.html FTD to buy Liberty Interactive's floral-gift business for $430M]

In October 2014, Liberty Interactive announced its board had approved the division of the firm into two trading stocks – one for its shopping business, QVC Group, and another for its digital commerce, Liberty Digital Commerce, which would trade as Liberty Ventures Group.{{cite press release | publisher=Reuters| date=6 October 2014| title=Liberty Interactive splits into cable shopping, e-commerce groups | url=https://www.reuters.com/article/us-liberty-intrctve-divestiture-idUSKCN0HS25820141003}}

In April 2017, Liberty Interactive announced it would acquire Alaskan cable company GCI.{{Cite web| title = Liberty Interactive Buys GCI of Alaska| work = Telecompetitor| access-date = 2017-09-24| url = http://www.telecompetitor.com/liberty-interactive-buys-gci-of-alaska/}} On July 6, 2017, Liberty Interactive announced that it would purchase the remaining 62% of HSN stock that it didn't already own, in a $2.1 billion all-stock deal at $40.36 a share.{{cite web | publisher=Wall Street Journal| date=6 July 2017| title=QVC to Acquire Rival HSN for More Than $2 Billion | url=https://www.wsj.com/articles/qvc-to-acquire-rival-hsn-for-more-than-2-billion-1499343460}}{{cite web | publisher=CNBC| date=6 July 2017| title=QVC buying longtime rival Home Shopping Network in deal valued at $2.1 billion | url=https://www.cnbc.com/2017/07/06/liberty-interactive-to-buy-hsn-in-deal-valued-at-2-point-1-billion.html0}}{{cite news|last1=Isidore|first1=Chris|title=QVC buying rival Home Shopping Network|url=https://money.cnn.com/2017/07/06/news/companies/qvc-home-shopping-network/index.html|access-date=6 July 2017|publisher=CNN Money|date=6 Jul 2017}}

In July 2017, Liberty Interactive announced that later that year it would spin off its "cable holdings and other non-retail assets" into the new company Liberty Ventures, with Liberty Interactive to be renamed QVC Group. QVC Group would consist of QVC, HSN, Cornerstone Brands, and Zulily.{{cite news |last1=Bond |first1= Shannon |last2= Kwan Yuk |first2=Pan |date=July 6, 2017 |url=https://www.ft.com/content/98bf8ecc-6260-11e7-8814-0ac7eb84e5f1|title=Liberty to combine QVC and HSN in $2.1bn deal | work=Financial Times |location=United Kingdom |access-date=July 9, 2017}}

On March 1, 2018, Liberty Interactive Corporation announced that it would rename itself to Qurate Retail Group.{{cite press release|title=Liberty Interactive to Change Name to Qurate Retail Group|url=https://www.prnewswire.com/news-releases/liberty-interactive-to-change-name-to-qurate-retail-group-300606607.html|website=www.prnewswire.com|access-date=8 March 2018|language=en}}{{Cite web |title=QVC owner Liberty Interactive to rebrand as Qurate Retail Group |url=https://www.retaildive.com/news/qvc-owner-liberty-interactive-to-rebrand-as-qurate-retail-group/518365/ |access-date=2023-11-16 |website=Retail Dive |language=en-US}}{{Cite web |last=Spangler |first=Todd |date=2018-03-01 |title=John Malone's Liberty Interactive, Owner of QVC and HSN, to Rename Itself 'Qurate' |url=https://variety.com/2018/biz/news/liberty-interactive-qurate-retail-group-qvc-hsn-1202714220/ |access-date=2023-11-16 |website=Variety |language=en-US}}

= 2020s =

In July 2021, Qurate Retail announced that former president and CEO Mike George would be replaced by David Rawlinson II on October 1 of the same year.{{Cite web|date=2021-07-13|title=Qurate Retail, Inc. Announces David Rawlinson II as Next President and CEO|url=https://www.businesswire.com/news/home/20210713005421/en/Qurate-Retail-Inc.-Announces-David-Rawlinson-II-as-Next-President-and-CEO|access-date=2021-07-13|website=www.businesswire.com|language=en}}{{Cite news|last=Kapner|first=Suzanne|date=2021-07-13|title=Owner of QVC and HSN Hires David Rawlinson as Its Next CEO|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/owner-of-qvc-and-hsn-hires-david-rawlinson-as-its-next-ceo-11626176700|access-date=2021-07-13|issn=0099-9660}}

In May 2023, Qurate Retail Group's stock was facing a delisting from the Nasdaq if share prices are unable to rebound, as their stock has declined over 80% over the past year.{{Cite web|url=https://www.bizjournals.com/philadelphia/news/2023/05/03/qvc-hsn-qurate-retail-stock-price-delisting.html|title=QVC, HSN parent Qurate Retail Group faces delisting from Nasdaq is share price doesn't rebound|date=May 3, 2023|access-date=October 3, 2023|website=The Business Journals|language=en}} To avoid delisting, Qurate Retail announced the sale of Zulily to Regent, L.P.{{cite news|url= https://www.businesswire.com/news/home/20230524005919/en/Qurate-Retail-Announces-Sale-of-Zulily-to-Regent |title= Qurate Retail Announces Sale of Zulily to Regent|date=May 24, 2023|access-date=May 24, 2023}} In October 2023, CreditRiskMonitor reported that Qurate Retail Group was nearing a potential Chapter 11 bankruptcy filing.{{Cite web|url=https://www.retaildive.com/news/retailers-at-risk-of-bankruptcy-2023/694548/|title=11 retailers at risk of bankruptcy in 2023|date=October 2, 2023|access-date=October 3, 2023|website=Retail Dive|language=en}}

On February 21, 2025, Qurate Retail Group officially changed its name to QVC Group.