Comcast revises its QVC offer
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.NEW YORK - Comcast has revised its dollars 2.2bn bid for the home shopping network QVC, bringing in Tele-Communications (TCI) as a partner in its takeover offer, writes Michael Marray.
Last week Comcast, the US's third-largest cable television operator, surprised the market by making a bid for QVC, in which it already has a 15 per cent stake, and so scuttling merger talks taking place between QVC and CBS.
Comcast's last-minute intervention provoked opposition from TCI, which owns a 20 per cent stake in QVC through an affiliate, Liberty Media. Yesterday's initiative strengthens Comcast's hand by bringing TCI in on its side, though Liberty Media said the move did not rule out other bids.
The first offer was for dollars 37 per QVC share in cash plus some preferred stock valued at dollars 7. The revised bid is still worth dollars 44 but is an all-cash offer.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments