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ShopNBC Being Shopped

ValueVision reviewing strategic alternatives for commerce cable channel.

By Robert Marich -- Broadcasting & Cable, 9/11/2008 8:17:00 AM

The parent of ShopNBC put the commerce cable channel up for sale Thursday with an announcement that its board is reviewing strategic alternatives to boost shareholder value.

ShopNBC

Minneapolis-based ValueVision made the announcement.

A special committee of directors is in charge of the process and hired Piper Jaffray as its financial advisor.

NBC Universal and other General Electric affiliates own 37% of ValueVision. According to ValueVision’s 2007 annual report, it “has an exclusive license agreement with NBC Universal for the worldwide use of an NBC-branded name and the peacock image through May 2011.” Any buyer would assume that licensing deal.

The exploration of strategic alternatives comes as ValueVision's stock price dropped from $8 per share one year ago to under $2.50 Thursday, along with executive-suite turnover at the company.

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