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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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