Shopping net shuffles deck to study merger

In response to QVC’s bid on Monday to merge with Home Shopping Network, HSN’s board was reshuffled and a committee was appointed to review the offer.

The St. Petersburg cable programmer announced on Tuesday that John Malone, chairman of Liberty Media Corp., and Liberty president Peter Barton had resigned.

Liberty owns a controlling interest of HSN and is a significant shareholder in QVC.

The positions were filled by Leo Hindery, founder, general partner and chief executive of San Francisco’s InterMedia Partners, a cable operator; John Draper, Liberty Media senior VP and general counsel; and George McNamee, chairman of investment bankers First Albany Companies Inc.

A special committee to study QVC’s offer will consist of HSN president/CEO Gerald Hogan and investment banker Anthony Forstmann.

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