Liberty Interactive said Thursday it would recapitalize the company splitting into two separate tracking stocks – Liberty Digital Commerce and QVC Group – early next year.
Liberty Digital Commerce would include former Liberty Interactive online and e-commerce companies like Provide Commerce, Backcountry.com, Bodybulding.com, CommerceHub, Right Start and Evite along with cash and certain liabilities. QVC Group would include its shopping channel QVC and its 38% interest in rival home shopping network, HSN Inc. Liberty expects the new trackers to debut by the first half of next year. Liberty Digital is expected to trade under the symbols “LDCA” and “LDCB,” while QVC Group will trade under the symbols “QVCA” and “QVCB.”
According to the deal, Liberty Interactive would be renamed QVC Group and shareholders would receive one share of Liberty Digital Commerce stock for every 10 shares of QVC Group they own.