Liberty Media Acquires Equity Interest in BORBA
Liberty Interactive Group and QVC embark on growth strategy to identify investments in emerging brands
ENGLEWOOD, Colo. and WOODLAND HILLS, Calif., Aug. 15 /PRNewswire-FirstCall/ -- Liberty Media Corporation (Nasdaq: LINTA, LCAPA) ("Liberty") and BORBA LLC announced that Liberty, through its Liberty Interactive Group, made a strategic investment in BORBA. This strategic alliance will enable QVC, Inc., also attributed to the Liberty Interactive Group, to continue its strong relationship with the successful health and beauty brand while allowing Liberty to participate in the value creation stemming from BORBA's distribution through QVC. Terms of the deal were not disclosed.
Part of a larger growth strategy to identify emerging, independent brands, the investment establishes a collaboration between Liberty, QVC and BORBA to capture additional value for this successful brand, which launched on QVC in May 2006. In just over a year, the company has sold nearly $5 million in product through QVC.
In addition to its QVC success, BORBA has experienced a large demand for its product lines, developed a strong celebrity following, received tremendous publicity and been the subject of positive editorial comments through numerous top-tier national consumer media outlets.
"BORBA is one of the most highly respected brands in this growing sector of the health and beauty business," said QVC's Chief Operating Officer, Meade Rudasill. "Based on QVC's customer response to the product, we introduced Liberty to Scott Vincent Borba knowing that this company has a very bright future."
"In my opinion, QVC is the preeminent beauty retailer," said Scott Vincent Borba, the company's founder and CEO. "BORBA is ecstatic and blessed to grow our brand, our vision and our relationship with the most progressive retailer in the nation. With the addition of the Liberty alliance, I look forward to even greater strategic success."
About Liberty Media Corporation:
Liberty Media Corporation owns interests in a broad range of electronic retailing, media, communications and entertainment businesses. Those interests are attributed to two tracking stock groups: the Liberty Interactive group, which includes Liberty's interests in QVC, Provide Commerce, IAC/InterActiveCorp, and Expedia, and the Liberty Capital group, which includes Liberty's interests in Starz Entertainment, News Corporation, and Time Warner. For more information, please see www.libertymedia.com.
BORBA carries a full range of nutraceutical products, which include Skin Balance Waters, Skin Balance Aqua-Less Crystallines, and Skin Balance Confections for skin's inner needs. In addition, BORBA carries a full range of cosmeceutical topical skincare and body care products. BORBA plans to be on the cutting edge of innovation and will reinvent not only the health and
beauty industry, but many other outside industries as well. For more information, please visit http://www.borba.net/.
SOURCE Liberty Media Corporation
Released August 15, 2007