QVC's parent company is taking control of the Home Shopping Network for about $2.6 billion in stock to create what they say will be the third-largest e-commerce company in the United States. The combination will help give QVC and HSN the scale they need to take on more established online competitors. QVC is stronger in fashion and beauty, he said, while crediting HSN in areas like electronics, fitness and health. He also noted the companies' social media presence and increasing e-commerce sales, with about $7.5 billion, and $4.7 billion in sales from mobile devices. In the near term, though, it expects the cost savings to be small.

Source: ABC News July 06, 2017 13:46 UTC