Liberty Media has agreed a deal worth $7.9 billion to buy Comcast’s majority stake in QVC, the home-shopping network.
Liberty, headed by CEO John Malone, already owns 42% of the internet shopping service. It has agreed to pay for the remaining stock with cash or a three-year senior unsecured note, or by issuing Liberty stock up to a maximum of 7.5% of the shares outstanding.
Brian L. Roberts, president and CEO of Comcast Corporation, said: “This has been a very difficult decision for Comcast.
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