Television shopping network ValueVision International Inc., Minneapolis, will form a new subsidiary dedicated to aggressively pursuing and managing new Internet ventures.
Working closely with NBC and GE Equity, the subsidiary expects to take a series of strategic equity positions in growing Internet enterprises that could substantially benefit from ValueVision’s TV network and shopping Web site. As part of this move, ValueVision has taken minority stakes in WhatsHotNow.com and VirtualVineyard.com.
The subsidiary will be formed within the next few weeks.
