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

in The Bay and the 'Burg/Top Headlines by

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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Disruption Day 2015 kicks off with Mimosas with Mindy

in The Bay and the 'Burg/Top Headlines by

It’s Disruption Day 2015. But don’t worry, that’s not a bad thing. The Tampa Bay Business Journal is hosting an all-day series of talks, meet and greets and panels discussing innovative ways to “disrupt” the status quo and move industries forward. According to the Tampa Bay Business Journal, its “goal is to foster dialogue on many facets of disruption, across sectors in health care, education, technology, media, manufacturing and others. We will explore how disruptive thinking impacts some of Tampa Bay’s…

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