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Home Shopping Network

Former HSN host claims breach of contract one day after QVC buyout

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A one-time on-air host for Home Shopping Network is suing the giant St. Petersburg-based omnichannel retailer for breach of contract a day after it was sold to rival QVC. Akos Jankura — known as “The Solutionist” — is the host of My Cool Inventions, a radio show that markets listener-submitted inventions. Many of those products were sold through its website, MyCoolGadgets.com.

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Home Shopping Network to be purchased by rival QVC in $2 billion deal

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Home Shopping Network is merging with its biggest competitor in a deal estimated at more than $2 billion. Liberty Interactive Group, which owns rival QVC, announced an agreement to buy the outstanding 62 percent of the St. Petersburg-based retailer (Nasdaq: HSNi) in an all-stock transaction. Liberty is already HSN’s largest shareholder, owning 38 percent. Liberty is already HSN’s largest shareholder, owning 38 percent. As of May 1, HSN’s enterprise value was $2.6 billion; the Liberty Interactive announcement put the equity…

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Personnel note: St. Pete’s Mindy Grossman named National Retail Federation chair

in The Bay and the 'Burg by

Home Shopping Network Inc. CEO Mindy Grossman will become the new chair of National Retail Federation board of directors. Grossman, a St. Petersburg resident, was elected this week to serve a two-year term. She replaces Kip Tindell, the co-founder and chair of the Container Store. Neiman Marcus Group CEO Karen Katz was also named chair of the NRF Foundation. Representing vendors from the U.S. and more than 45 countries, the National Retail Federation is the world’s largest retail trade association.…

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St. Pete-based HSN drops revenue, profits; still beating industry expectations

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HSN Inc., a home shopping network operator, reported a drop in its fourth-quarter profit and revenue Wednesday. But its profit for the period exceeded market expectations, sending its shares up in trading. The St. Petersburg, Florida-based company said it earned $59.7 million, or $1.12 per share. Earnings, adjusted for one-time gains and costs, amounted to $1.15 per share. Analysts surveyed by Zacks Investment Research were anticipating earnings of $1.04 per share. HSN’s revenue fell 2 percent to $1.1 billion, short…

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