FTC Clears Liberty’s Purchase of QVC Stake

Liberty Media Corp.’s $7.9-billion purchase of Comcast Corp.’s controlling stake in QVC, the largest home shopping television network, was cleared by U.S. antitrust authorities, the Federal Trade Commission said.

Liberty, the media investment company controlled by John Malone, agreed last month to buy Comcast’s 57% stake in QVC. Englewood, Colo.-based Liberty already owns 43% of QVC and minority stakes in News Corp. and other firms. Owning all of QVC would give Liberty access to the cash flow the network generates.

The acquisition still must be approved by the Federal Communications Commission and European regulators.

The Class A shares of Philadelphia-based Comcast rose 1 cent to $29.28 on Nasdaq. Liberty Media rose 18 cents to $10.83 on the New York Stock Exchange.