Liberty Posted November 4, 2014 Share Posted November 4, 2014 http://files.shareholder.com/downloads/AMDA-GY7JI/2756792379x7456752x791401/0801ddf8-743a-4c41-a917-ca3e65f8bf30/LINTA_News_2014_11_4_General_Releases.pdf Liberty Interactive Corporation ● Reattributed Digital Commerce companies and approximately $1 billion in cash from QVC Group to Liberty Ventures Group in exchange for 67.67 million newly issued shares of Liberty Ventures Group ❍ Liberty Interactive Group renamed QVC Group and trading under new tickers QVCA and QVCB ❍ Newly issued Liberty Ventures Group shares distributed to QVC Group holders tax-free ❍ Cash and liquid investments attributed to Liberty Ventures Group estimated to be $2.7 billion at year-end ❍ Improved trading liquidity through Liberty Ventures Group share issuance ● Completed the spin-off of Liberty TripAdvisor Holdings, Inc. ("Liberty TripAdvisor") on August 27th Attributed to QVC Group QVC US grew revenue by 5% and adjusted OIBDA(2) by 8% in the third quarter QVC.com revenue as a percent of total US revenue increased 222 basis points to 43% QVC US mobile penetration was 41% of QVC.com orders QVC US operating income increased by 6% QVC posted strong adjusted OIBDA increases across all European operations QVC completed issuance of $1 billion in new Senior Notes Attributed to Liberty Ventures Group ● Announced additional $650 million share repurchase authorization at Liberty Ventures Group ● Received approximately $350 million distribution in conjunction with spin-off of Liberty TripAdvisor Link to comment Share on other sites More sharing options...
magno111 Posted November 4, 2014 Share Posted November 4, 2014 i think the results are very very good. Market was blaming about the lack of growth ant margin compression... and right now they grew at 4% and EBITDA was 8% up. As new markets mature, margins expands. Link to comment Share on other sites More sharing options...
valueorama Posted November 5, 2014 Share Posted November 5, 2014 QVC: Talk about sticky customers. Customers are following them into Mobile. 40% of internet orders from Mobile and internet orders are going up. QVC's margins should improve if this trend continues. Personally i have never shopped at QVC. I just dont see the appeal. Apparently those customers just love it. But love holding all liberty companies. Link to comment Share on other sites More sharing options...
Guest JoelS Posted November 5, 2014 Share Posted November 5, 2014 I think QVC is an enormous beneficiary of the growing use of devices while watching TV - an unhealthy habit I find myself doing occasionally. I think this trend has played right into their hands. http://techcrunch.com/2012/12/05/nielsen-85-percent-of-tablet-and-smartphone-owners-use-devices-as-second-screen-monthly-40-percent-do-so-daily/ My 2c is that the company will also benefit from a resurgence of the american consumer, and a decline in the pace of financial repression (deleveraging). Link to comment Share on other sites More sharing options...
Liberty Posted November 20, 2014 Share Posted November 20, 2014 Liberty Interactive also had an investor day today: http://files.shareholder.com/downloads/AMDA-GY7JI/2756792379x7456752x795629/5256353a-60e7-4865-9557-7a626d19631a/LIBERTY%20INTERACTIVE%20-%20LIBERTY%20TRIPADVISOR%202014%20IR%20SLIDES.pdf http://ir.libertyinteractive.com/events.cfm Link to comment Share on other sites More sharing options...
LC Posted November 20, 2014 Share Posted November 20, 2014 I think QVC is an enormous beneficiary of the growing use of devices while watching TV - an unhealthy habit I find myself doing occasionally. Occasionally!? Here I am watching a movie on TV, while typing this on my laptop, and periodically checking my iphone for text messages. I need to get out more ;D Link to comment Share on other sites More sharing options...
Sportgamma Posted November 20, 2014 Share Posted November 20, 2014 Liberty Interactive also had an investor day today: http://files.shareholder.com/downloads/AMDA-GY7JI/2756792379x7456752x795629/5256353a-60e7-4865-9557-7a626d19631a/LIBERTY%20INTERACTIVE%20-%20LIBERTY%20TRIPADVISOR%202014%20IR%20SLIDES.pdf http://ir.libertyinteractive.com/events.cfm Are you guys able to open the file? Link to comment Share on other sites More sharing options...
peter1234 Posted November 20, 2014 Share Posted November 20, 2014 Liberty Interactive also had an investor day today: http://files.shareholder.com/downloads/AMDA-GY7JI/2756792379x7456752x795629/5256353a-60e7-4865-9557-7a626d19631a/LIBERTY%20INTERACTIVE%20-%20LIBERTY%20TRIPADVISOR%202014%20IR%20SLIDES.pdf http://ir.libertyinteractive.com/events.cfm Are you guys able to open the file? Yes, no problem. Sometimes PDFs get corrupted while downloading. Download again or use a different PDF viewer? ;) Link to comment Share on other sites More sharing options...
Liberty Posted November 20, 2014 Share Posted November 20, 2014 Are you guys able to open the file? It's a big file. If you are on a slow connection, it could take a while to open. Link to comment Share on other sites More sharing options...
thefatbaboon Posted January 29, 2015 Share Posted January 29, 2015 HSN announces $10 special dividend. Link to comment Share on other sites More sharing options...
Liberty Posted February 26, 2015 Share Posted February 26, 2015 http://ir.libertyinteractive.com/releasedetail.cfm?ReleaseID=898376 Attributed to QVC Group Grew QVC US revenue by 5% and adjusted OIBDA(2) by 8% in the fourth quarter QVC US operating income increased by 8% QVC.com revenue as a percent of total US revenue increased to 48%, a 254 basis point increase QVC US mobile penetration was 42% of QVC.com orders, a 1,023 basis point increase Achieved positive quarterly adjusted OIBDA at QVC Italy for the first time Grew QVC US revenue by 4% and adjusted OIBDA by 6% in 2014 QVC US operating income increased by 4% Returned $3.26 billion in value to QVC Group shareholders in 2014 through share repurchases and the Liberty Ventures share dividend Received a one-time special dividend of $10/share from HSN, Inc. ("HSN"), on February 19, 2015; pre-tax proceeds to QVC Group, net of amounts passed through on Liberty Interactive's HSN Exchangeable notes, were $146 million Attributed to Liberty Ventures Group Closed the sale of Provide Commerce ("Provide") to FTD Companies, Inc. ("FTD"), on December 31, in exchange for $145 million in cash and 10.2 million shares of FTD, representing an approximate 35% ownership interest, resulting in a gain of $75 million Finished 2014 with $2.8 billion of attributed cash and liquid investments Link to comment Share on other sites More sharing options...
Guest JoelS Posted May 13, 2015 Share Posted May 13, 2015 Liberty Interactive 2014 annual report if anyone missed it. Liberty_Interactive_Corp._-_Annual_Report_2014.html Link to comment Share on other sites More sharing options...
Liberty Posted May 14, 2015 Share Posted May 14, 2015 Liberty Interactive 2014 annual report if anyone missed it. Thanks Joel, but I don't think your upload worked. Link to comment Share on other sites More sharing options...
Guest JoelS Posted May 14, 2015 Share Posted May 14, 2015 Hmm my apologies, let me try again. Link to report here: http://files.shareholder.com/downloads/AMDA-GY7JI/3164687764x0xS1104659%2D15%2D33723/1355096/filing.pdf Link to comment Share on other sites More sharing options...
Liberty Posted May 14, 2015 Share Posted May 14, 2015 Thanks! Link to comment Share on other sites More sharing options...
Guest JoelS Posted July 29, 2015 Share Posted July 29, 2015 Does anyone know the tax consequences of a full spin out of the QVC business? I.e. is there a certain time period that must have passed before the tracking stock structure can be removed, and the QVC business on its own in a tax free spin off ? TIA Link to comment Share on other sites More sharing options...
Liberty Posted August 5, 2015 Share Posted August 5, 2015 Q2: http://ir.libertyinteractive.com/releasedetail.cfm?ReleaseID=925878 Market likes it. Up 8%. Link to comment Share on other sites More sharing options...
no_free_lunch Posted August 31, 2015 Share Posted August 31, 2015 Is this the QVCA board? Malone companies are so confusing. It's old news but the ZU acquisition is fairly major given QVCA's size. So far I am not a big fan, the numbers they are paying are high and this is not a simple bolt-on. They did get it for less than it IPO'd at so there is that but ZU will need to grow quite a bit more to justify what they paid. Then Greg Maffei, the CEO of QVC parent Liberty Interactive Corp. (Nasdaq: QVCA) called Vadon to see if he'd be interested in a more direct relationship with Liberty. It was clear to both men that the two companies could benefit a lot from each other's experience. Liberty then announced it will buy Zulily for $2.4 billion. QVC has a sophisticated distribution and fulfillment system that Zulily could use to make its own system more efficient, for example. Zulily could also benefit from the increased marketing it would get on air. .. After the acquisition closes, the Zulily brand will remain. Cavens said he expects the company's Seattle office to continue to expand. "As we look forward, this gives us a larger platform to play with," Cavens said. "It allows us to really go chase some big opportunities." http://www.bizjournals.com/seattle/blog/techflash/2015/08/behind-the-qvc-deal-zulily-leadership-built-decade.html?ana=yahoo Link to comment Share on other sites More sharing options...
jay21 Posted August 31, 2015 Share Posted August 31, 2015 They basically guided towards synergies equal to current EBITDA, so halve the multiple to get a sense of what they think they paid. Looks fairly priced imo with call option upside. Link to comment Share on other sites More sharing options...
no_free_lunch Posted August 31, 2015 Share Posted August 31, 2015 Yeah, it could turn out okay, I just question whether they are out of their sphere getting into web based businesses. I am not decidedly against it, just not confident is all. Perhaps the saving grace could be that they are paying half with their own shares which seem undervalued. They are generating a ton of cash, it looks like they could pay the whole thing off in about 2 years so they are not betting the company on it. It is tough because I was about to to buy into QVC but have had to rethink things after this happened. If you just forget about ZU it looks quite cheap. Anyone else selling/adding? Link to comment Share on other sites More sharing options...
seeker Posted October 29, 2015 Share Posted October 29, 2015 http://www.businessinsider.com/amazon-working-on-its-own-shopping-channel-2015-10 QVCA/HSN down ~5%. Oddly both stocks sold off hard around 10:45a even though this story was out yesterday. Little details out around AMZN service but not sure I understand the negative reaction. If this is just another window to purchase AMZN products then the negative reaction seems unwarranted. Especially considering the <10% overlap that QVC products have with AMZN products. Also not sure how AMZN will be launching this "channel". Maybe I'm too optimistic, but seems like this is just headline risk with people calling it a "QVC Killer", even though there's no details. Anybody have additional thoughts? Link to comment Share on other sites More sharing options...
ItsAValueTrap Posted October 30, 2015 Share Posted October 30, 2015 Yeah, it could turn out okay, I just question whether they are out of their sphere getting into web based businesses. I am not decidedly against it, just not confident is all. Between QVCA and LVNTA, they own a bunch of eCommerce businesses. The highest quality one being commerceHub. Link to comment Share on other sites More sharing options...
scorpioncapital Posted October 30, 2015 Share Posted October 30, 2015 Yeah, it could turn out okay, I just question whether they are out of their sphere getting into web based businesses. I am not decidedly against it, just not confident is all. Between QVCA and LVNTA, they own a bunch of eCommerce businesses. The highest quality one being commerceHub. The highest quality one being Expedia :) Link to comment Share on other sites More sharing options...
thefatbaboon Posted November 4, 2015 Share Posted November 4, 2015 perhaps we should have shorted out broadband and isolated the Expedia long! Link to comment Share on other sites More sharing options...
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