ValueVision CEO Targeted by Activist Investor Clinton Group
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Activist shareholder Clinton Group Inc. is targeting television and Internet home shopping company ValueVision Media Inc. with a campaign to replace its chief executive officer and appoint board members.
Clinton Group’s funds own more than 5 percent of ValueVision, which operates the ShopNBC network and ShopHQ, according to a letter to the company’s Chairman Randy Ronning. A copy of the letter, which was written by the New York-based investor’s President Greg Taxin and dated today, was filed with the Securities and Exchange Commission.