That should be QVC's parent company owning a portion of HSN.

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> On Jul 6, 2017, at 15:17, Brad Beam <[email protected]> wrote:
> 
> HSN already had 38% ownership of QVC's parent company.
> 
> http://www.npr.org/sections/thetwo-way/2017/07/06/535778547/qvc-plans-to-buy-merge-with-home-shopping-network?utm_source=twitter.com&utm_medium=social&utm_campaign=npr&utm_term=nprnews&utm_content=20170706
> 
> 
> Sent from my iPhone
> 
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