Leading outdoor and action sports e-commerce business to enhance Liberty
Media web strategy
ENGLEWOOD, Colo. and PARK CITY, Utah, May 7 /PRNewswire-FirstCall/ --
Liberty Media Corporation (Nasdaq: LINTA, LCAPA) ("Liberty") and
Backcountry.com today announced that they have entered into a definitive
agreement for Liberty Media to acquire control of Backcountry.com -- the
operator of leading outdoor and action sports eCommerce sites
Backcountry.com, BackcountryOutlet.com, TramDock.com, DogFunk.com,
SteepandCheap.com and WhiskeyMilitia.com. Terms of the acquisition were not
disclosed. Liberty's interest in Backcountry.com will be attributed to the
Liberty Interactive group. The transaction is subject to regulatory and
other approvals and is anticipated to close in the second quarter of 2007.
Backcountry.com is a pure-play internet commerce company, listed as one
of the top 25 outdoor retailers in the United States by Outdoor Business.
It is a three-time winner of Internet Retailer's 50 Best Retail Sites award
and is a member of the Inc. 500.
"Backcountry is a fast-growing leader in eCommerce and a pioneer in
social commerce," said Michael Zeisser, Senior Vice President of Liberty
Media. "We are pleased to welcome entrepreneurs of the caliber of Jim
Holland and John Bresee, and their team, into the Liberty family. We look
forward to driving collaboration among Backcountry and its world-class
outdoor brands and Liberty's existing eCommerce and television companies.
This investment in Backcountry represents another step in our stated
strategy to seek acquisitions of commerce companies that have unique value
propositions, outstanding management teams, and strong track records to
drive the continued growth of the group of assets attributed to Liberty
Interactive."
"There is no better ally for Backcountry.com than Liberty Media," said
Backcountry.com CEO and co-founder Jim Holland. "Their experience,
resources and philosophy will enable us to improve our services and
capacity on every level while maintaining the independent spirit and
culture that has been integral to Backcountry.com's success. We are excited
to work with the Liberty team." John Bresee, president and co-founder
added, "Liberty Media is a pioneer in eCommerce. We're excited to take
Backcountry.com to the next level with them."
Backcountry.com received financial advice from Cowen and Company, LLC
and legal advice from Wilson Sonsini Goodrich & Rosati. Liberty Media
received legal advice from Sherman & Howard LLC and Baker Botts L.L.P.
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
http://www.libertymedia.com .
About Backcountry.com:
With offices in Park City, Utah and Salt Lake City, Utah,
Backcountry.com (http://www.Backcountry.com) is an e-commerce business that
sells performance gear for backcountry adventures, including backpacking,
climbing, skiing, snowboarding, trail running and adventure travel.
Backcountry.com also operates BackcountryOutlet.com, Dogfunk.com,
Tramdock.com, SteepandCheap.com and WhiskeyMilitia.com. Backcountry was
founded in 1996.
SOURCE Liberty Media Corporation
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Related links:
http://www.Backcountry.com
http://www.libertymedia.com
CONTACT:
John Orr of Liberty Media, +1-720-875-5622;
or Mike Geraci of Base Camp Communications, +1-307-734-7575, for
Backcountry.com
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