Comcast, the Philadelphia cable cabal, is back in the home shopping business.
Comcast, which once owned QVC, now holds a roughly 17 percent stake in ShopNBC, as a result of its acquisition of NBC Universal, according to a filing the media giant made Monday with the Securities and Exchange Conmmission.
ValueVision Media, ShopNBC’s corporate name, had 37.7 million shares outstanding as of Jan. 5. NBCU, now part of Comcast, owns 6.4 million, or 17 percent, of those shares. Comcast/NBCU will be getting an additional 1 million shares in May as part of a licensing agreement that permits ShopNBC to continue using “NBC” in its name.
And 10 percent of ShopNBC’s common stock is owned by management.
QVC, once of Comcast CEO Brian Robert’s favorite assets, is now owned by cable cowboy John Malone’s Liberty Media.