In a deal that is worth an estimated $2.1 billion, television shopping giants QVC and the Home Shopping Network (HSN) are set to merge together in what many believe to be an effort to take on Amazon.
QVC already owns 38 percent of HSN.
— HSN (@HSN) July 1, 2017
— QVC (@QVC) July 1, 2017
With the rise in online shopping and a decline in regular television viewing, the merger will also focus on new ways to secure customer sales, such as a bigger online presence and better smartphone and tablet streaming. QVC has also been focused on attracting a younger millennial audience with the addition of younger, more “in-trend” merchandise.