TELECOMMUNICATIONS

Comcast, TCI Finish $1.42-Billion QVC Purchase: The transaction closed one week after the Federal Trade Commission voted 4-0 to let Englewood, Colo.-based Tele-Communications Inc. buy a bigger share in QVC, ending months of uncertainty for the nation’s largest cable TV operator. “As a founding investor in the company, we have watched QVC develop into the premier franchise in electronic retailing,” said Brian Roberts, Comcast Corp. president. Philadelphia-based Comcast and TCI’s domestic programming subsidiary, Liberty Media, are partners in QVC Programming Holdings, the joint acquisition vehicle that made the $46-a-share cash offer for QVC shares that expired at midnight. Comcast owns 54.7% of the joint venture, Liberty Media about 42.3%.