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DESPITE FTC CONCERN, TCI WANTS A QVC DEAL BY FEBRUARY
Published January 20, 1995
On Wednesday, the FTC said it was seeking to "bar the acquisition" of QVC, Inc. by TCI and Comcast Corp., "contending" that the $1.42B deal would give TCI too much "market power in the home shopping industry." Yesterday, TCI said it was preparing to give the government "10 days notice that it intends to consummate its acquisition of QVC by late February." TCI also plans to meet with FTC officials next week to personally argue their case. A industry source told the L.A. TIMES that TCI will fight the FTC in court if the agency strikes the deal. Comcast would apparently back TCI in any litigation. Comcast Chair Barry Diller: "The government has every right to investigate the matter, but this is torture" (Shiver & Harris, L.A. TIMES, 1/20). The N.Y. POST reports this morning that the takeover will still occur, and analysts say that "even if TCI was knocked out, Comcast would proceed on its own or with a new equity partner" (John Durie, N.Y. POST, 1/20).