![]() Make QVC Group eligible for possible inclusion in stock indices through elimination of tracking stock structure.Liberty Interactive expected to be renamed QVC Group, Inc.Establish leading pure play discovery based retail and eCommerce company.Liberty Interactive believes an asset-backed QVC Group will provide the following benefits: Provide financial flexibility for future borrowings.Establish a strong currency that will be a more effective tool for management compensation and retention.Produce strong free cash flow allowing for potential stock repurchases.Provide greater flexibility for GCI Liberty to pursue future strategic transactions.Reduce Liberty Ventures tracking stock discount.Liberty Interactive believes the creation of GCI Liberty will provide the following benefits: “We will continue to run the company with our focus on providing the best value for Alaska customers, offering opportunities for our employees and investing wisely in the Alaska market.” We couldn’t think of a better owner, and look forward to being the largest operating asset within GCI Liberty,” said Ron Duncan, GCI President and CEO. “This transaction with Liberty Interactive brings GCI back full circle, as GCI was part of TCI until 1986. This transaction will ultimately create a standalone Liberty Ventures, reducing the tracking stock discount and enabling an asset-backed QVC Group.” “GCI is the largest communications provider in Alaska, generates solid cash flow with upside potential and is a strong fit with the largest businesses in Liberty Ventures. “We are pleased to announce this transaction with GCI,” said Greg Maffei, Liberty Interactive President and CEO. (“GCI Liberty”)) to the holders of Liberty Ventures common stock in full redemption of all outstanding shares of such stock. Liberty Interactive will then effect a tax-free separation of its controlling interest in the combined company (to be named GCI Liberty, Inc. (“GCI”) (Nasdaq: GNCMA) today announced that they have entered into a definitive agreement (the “Agreement”) whereby Liberty Interactive will acquire GCI through a reorganization in which certain Liberty Ventures Group (“Liberty Ventures”) assets and liabilities will be contributed to GCI in exchange for a controlling interest in GCI. ![]() Liberty Interactive Corporation (“Liberty Interactive”) (Nasdaq: QVCA, QVCB, LVNTA, LVNTB) and General Communication, Inc. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |