QVC to Purchase HSN in All-Stock Deal Valued at $2.1 Billion

Cable TV rivals QVC and the Home Shopping Network announced they plan to merge through an all-stock transaction valued around $2.1 billion. QVC chief exec Mike George will run the combined company and 17 cable channels. As impulse buying and video watching increasingly go mobile, the TV-based retailers have been facing increased competition from Amazon. “QVC’s sales in the U.S. have declined in each of the last three quarters,” reports The Wall Street Journal. “Revenue at HSN has declined for six straight quarters, and the company has been searching for a new CEO.” Continue reading QVC to Purchase HSN in All-Stock Deal Valued at $2.1 Billion

BitTorrent Adds New Chief Exec, Aims to Spinoff Live Service

BitTorrent is going through some changes: according to sources, founder Bram Cohen is turning his efforts to a new crypto-currency project, Rogelio Choy is taking over the chief executive position from Dipak Joshi, and plans are afoot to turn the BitTorrent Live service into a separate, venture-funded company. Joshi, who came on board as interim chief executive after BitTorrent fired its co-chief executives in October, will continue to work as its chief financial officer, a role he’s held since 2014. Continue reading BitTorrent Adds New Chief Exec, Aims to Spinoff Live Service

Walmart to Purchase Jet.com in Bid to Compete with Amazon

In its biggest bid yet to compete more directly with Amazon, Arkansas-based Walmart is acquiring e-commerce startup Jet.com for $3.3 billion ($3 billion in cash and $300 million in shares to be paid over time). Walmart has been busy expanding its online operation, and the Jet.com deal provides it with a shopping site that is adding 400,000 consumers monthly and has already reached a $1 billion gross merchandise run rate. Store-based businesses such as Costco, Target and Walmart have been looking for effective ways to contend with Amazon’s successful online model. Continue reading Walmart to Purchase Jet.com in Bid to Compete with Amazon

Percentage of Mobile-Only Shoppers at Top Retailers Increases

According to comScore, 10 percent of Internet users in the U.S. only go online via smartphones and tablets. The measurement firm further notes that 13 percent of users accessing retail apps and sites do so via mobile devices only. Interestingly, the number of mobile-only shoppers at the top 10 retailers exceeds 50 percent in some cases. During January, for example, comScore reports the following percentages for mobile-only shoppers at top retailers: 51 percent at Walmart, 59 percent at Apple, and 53 percent at Target. Continue reading Percentage of Mobile-Only Shoppers at Top Retailers Increases

Second Screen: QVC Hopes Tablet App Will Help Drive Sales

In order to accommodate consumers’ increasing desire to shop on mobile devices, home shopping pioneer QVC plans to launch a new tablet app that will feature content related to its television broadcasts. According to Nielsen’s 2014 Digital Consumer Report, 84 percent of smartphone and tablet owners use their devices as second screens while watching television. Leveraging this trend, QVC’s app will accompany its TV programming in order to help drive sales.  Continue reading Second Screen: QVC Hopes Tablet App Will Help Drive Sales

Time Warner Cable Offers $29.99 Bundle: HBO and 20 Channels

Time Warner Cable is marketing a stripped-down, low-cost bundle ($29.99 per month) that includes HBO and a limited number of broadcast TV channels. The new package is targeting viewers who are not interested in paying for a traditional tier of cable channels. The “Starter TV with HBO” package features about 20 channels including local broadcast networks. The special pricing is available for the first 12 months, but does not include set-top box fees or other charges. Continue reading Time Warner Cable Offers $29.99 Bundle: HBO and 20 Channels