Liberty Media Corporation – Interactive Group, through its subsidiaries, engages in the video and on-line commerce, media, communications and entertainment industries in North America, Europe and Asia.
The company's subsidiaries include QVC, Inc., Provide Commerce, Inc. and BuySeasons, Inc.; and its interests in Expedia, Inc. and IAC/InterActiveCorp.
QVC, Inc. (QVC)
QVC markets and sells various consumer products in the U.S. and other foreign countries primarily by means of merchandise-focused televised shopping programs on the QVC networks and through the Internet through its domestic and international Web sites. QVC's Web sites offer a complement to televised shopping by allowing consumers to purchase various goods that were previously offered on the QVC networks, as well as other items that are available from QVC through its Web sites.
QVC classifies its merchandise into three groups: home, apparel/accessories and jewelry. QVC distributes its television programs, through satellite or optical fiber, to multichannel video program distributors for retransmission to subscribers in the United States, the United Kingdom, Germany, Japan and neighboring countries that receive QVC's broadcast signals. QVC's international business units each obtain uplinking services from third parties and transmit their programming to non-preemptible transponders on five international satellites.
Provide Commerce, Inc. (Provide Commerce)
Provide Commerce operates as an e-commerce marketplace of Web sites for perishable goods that delivers products directly from suppliers to customers. Provide Commerce combines an online storefront, proprietary supply chain management technology, established supplier relationships and integrated logistical relationships with Federal Express Corporation and United Parcel Service, Inc. to create a market platform that bypasses traditional supply chains of wholesalers, distributors and retailers. Provide Commerce sells flowers and plants on its proflowers.com Web site and from the sale of gourmet foods from its Uptown Prime, a supplier of premium meats and seafood, Cherry Moon Farms, a supplier of fresh premium fruits, and Secret Spoon, a supplier of fresh desserts and confections, branded Web sites. Provide Commerce also enters into arrangements with businesses desiring to offer time-sensitive or perishable products to customers on a co-branded or private label basis, designing and hosting Web sites on behalf of such clients.
BuySeasons, Inc.
BuySeasons, Inc., a wholly owned subsidiary that the company acquired in August 2006, operates BuyCostumes.com, an on-line retailer of costumes, accessories, decor and party supplies. BuyCostumes.com provides a single destination for children and adults looking for solutions for celebration and costuming events. BuySeasons sells its costumes and accessories to retail customers who order through the BuyCostumes.com Web site. BuySeasons provides BuySeasons Direct business which offers drop-ship fulfillment of its products for other retailers. BuySeason's products are also available from other on-line and traditional brick-and-mortar retailers. BuySeasons purchases its products from various suppliers, both domestic and international.
Expedia, Inc. (Expedia)
The company indirectly owns an approximate 21% equity interest and a 53% voting interest in Expedia. Expedia is the major travel services company, making travel products and services available to leisure and corporate travelers in the United States and worldwide through a diversified portfolio of brands, including Expedia, Hotels.com, Hotwire, Expedia Corporate Travel, Classic Custom Vacations, and various other domestic and international brands and businesses. Through its portfolio of domestic and international brands and businesses, Expedia makes available, on a package basis, travel products and services provided by various airlines, lodging properties, car rental companies, cruise lines and destination service providers, such as attractions and tours.
IAC/InterActiveCorp (IAC)
The company indirectly owns an approximate 24% equity interest and a 57% voting interest in IAC. IAC is a multi-brand interactive commerce company transacting business worldwide through the Internet, television and the telephone. IAC's portfolio of companies collectively enables direct-to-consumer transactions across many areas, including home shopping, event ticketing, personals, travel, teleservices and local services.
IAC consists of the following sectors: Retailing, which includes HSN, Cornerstone Brands, Inc., Shoebuy.com and international home shopping channels; Services, which includes Ticketmaster, Lending Tree and its affiliated brands and businesses, and service outsourcers; Media and Advertising, which includes Ask.com and Citysearch; and Membership and Subscriptions, which includes match.com, Entertainment Publications, which promotes merchants through consumer savings, and Interval International, which offers services to time share vacation owners.
Competition
Provide Commerce competes with online floral providers such as 1-800-FLOWERS and Hallmark Flowers, floral wire services such as FTD and Teleflora.
Expedia competes with hoteliers and airlines as well as travel planning service providers, including aggregator sites that offer inventory from multiple suppliers, such as airline sites, Orbitz, Travelocity and Priceline, and with American Express and Navigant International, providers of corporate travel services.
