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SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
------------------------
AMENDMENT NO. 9
to
SCHEDULE 14D-1(*)
Tender Offer Statement Pursuant to Section 14(d)(1)
of the Securities Exchange Act of 1934
QVC, INC.
(Name of Subject Company)
QVC PROGRAMMING HOLDINGS, INC.
COMCAST CORPORATION
TELE-COMMUNICATIONS, INC.
(Bidders)
Common Stock, $.01 Par Value Per Share
(Title of Class of Securities)
747262 10 3
(CUSIP Number of Class of Securities)
Exhibit (a)(14)
FOR IMMEDIATE RELEASE
COMCAST AND LIBERTY MEDIA
EXTEND QVC TENDER OFFER
UNTIL NOVEMBER 18
____________________________________
Philadelphia, PA and Englewood, CO -- October 21, 1994: Comcast Corporation
and Tele-Communications, Inc. ("TCI") announced today that they do not expect
that the applicable waiting periods under the Hart-Scott-Rodino Antitrust
Improvements Act relating to the acquisition of QVC, Inc. will have expired by
11:59 P.M., New York City time, on October 21, 1994, the time at which the
tender offer for the stock of QVC is currently scheduled to expire.
As a result, QVC Programming Holdings, Inc., an acquisition
vehicle jointly owned by Comcast and Liberty Media Corporation, a wholly-owned
subsidiary of TCI, has extended the expiration date for the tender offer until
5:00 P.M., New York City time, on November 18, 1994. As a consequence of the
extension of the expiration date, holders of QVC shares are entitled to tender
or withdraw their shares pursuant to the tender offer until 5:00 P.M., New
York City time, on November 18, 1994, unless the offer is further extended.
If the applicable waiting periods under the Hart-Scott-Rodino
Antitrust Improvements Act have not expired or been terminated at such time,
QVC Programming Holdings, Inc. may elect to extend the tender offer beyond
such time. However, under the terms of the Merger Agreement pursuant to which
the tender offer is being made, QVC Programming Holdings, Inc. may not
terminate the tender offer prior to December 31, 1994 by reason of the
applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements
Act not having expired or been terminated, although the expiration of the
applicable waiting periods is a condition to the tender offer.
As of the close of business on October 20, 1994, approximately
14,154,131 shares of QVC Common Stock, 468 shares of QVC Series B Preferred
Stock and 35,502 shares of QVC Series C Preferred Stock had been tendered
pursuant to the tender offer.
Comcast Corporation is principally engaged in the development,
management and operation of cable communications networks. Comcast's
consolidated and affiliated operations served approximately 3.0 million cable
subscribers at June 30, 1994. After completion of the acquisition of Maclean
Hunter's United States cable properties, Comcast's consolidated and prorated
affiliated operations will serve approximately 3.5 million cable subscribers,
making it the third largest cable operator in the country. Comcast provides
cellular telephone services in the Northeast United States to markets
encompassing a population in excess of 7.4 million. Comcast also has
investments in cable programming, telecommunications systems, and
international cable and telephony franchises.
Comcast's Class A and Class A Special Common Stock are traded on
the Nasdaq Stock Market under the symbols CMCSA and CMCSK, respectively.
Liberty is a wholly-owned subsidiary of Tele-Communications, Inc.
TCI is the United States' largest cable television operator, serving 10.9
million customers in 48 states, Puerto Rico and the District of Columbia. The
company also holds interests in several national cable programming networks.
Tele-Communications, Inc. is traded in the Nasdaq National Market
with Class A and Class B Common Stock and Class B Preferred Stock trading
separately under the symbols of TCOMA, TCOMB and TCOMP, respectively.
FOR FURTHER INFORMATION CONTACT:
Comcast Corporation
William E. Dordelman
Assistant Treasurer
(215) 981-7550
Kathleen B. Jacoby
Director of Investor Relations
(215) 981-7392
Tele-Communications, Inc.
Steve Smith
Investor Relations
(303) 267-5048
Vivian Carr
Liberty Media
(303) 721-5406