Liberty Interactive Corporation is reevaluating the optimal structure and best alignment of its Liberty Digital Commerce Group assets, including Backcountry.com, following its agreement to sell the bulk of the group’s assets in a separate transaction.
Liberty Interactive announced July 30 that it has agreed to sell its Provide Commerce floral and gifting businesses to FTD Companies Inc for 10.2 million in Liberty stock and $121 million in cash.
Liberty Interactive still plans to create the QVC Group tracking stock, which will be comprised of its interests in QVC and HSN, but said it is now reevaluating plans to spin off a tracking stock for its Digital Commerce businesses, which include Backcountry.com, Bodybuilding.com and other businesses.
”In light of the pending Provide Commerce transaction, and other factors, Liberty is reevaluating the optimal structure and best alignment of the Liberty Digital Commerce Group assets,” Liberty Interactive said. “As a result, the timing of the transition to the QVC Group has been delayed.”
