Evine To Purchase 4.4 Mln Of Its Stock In Private Transaction With NBCUniversal

(RTTNews) - Evine Live Inc. (EVLV) announced that on January 30, 2017, the company agreed to purchase a block of 4.4 million shares of its common stock, representing approximately 6.9% of shares outstanding, for approximately $4.9 million or $1.12 per share in a private transaction with NBCUniversal Media, LLC, a subsidiary of Comcast Corp. (CMCSA).

Bob Rosenblatt, CEO of Evine, stated, "We were happy to work with Comcast and NBCUniversal to efficiently reduce this non-core investment that Comcast inherited in their acquisition of NBCUniversal in 2011. We look forward to continuing to partner with Comcast to build a strong future for Evine."