ValueVision Hires Banc of America to Seek Ways to Invest Cash ValueVision Hires Banc of America to Seek Ways to Invest Cash Minneapolis, Dec. 1 (Bloomberg) -- ValueVision InternationalInc., owner of the No. 3 home-shopping television network, saidit hired Banc of America Securities to explore ways to invest itscash. The company has said it plans to use a large portion of its$300 million in available cash for strategic investments,especially in Internet companies. ValueVision is revamping its network and Internet strategyas part of an alliance reached in September with NBC's Internetbusiness. As part of that partnership, ValueVision will changethe names of its network and Web site to SnapTV and SnapTV.comand will broaden its product mix.``These moves require large, strategic investments,' saidGene McCaffery, ValueVision's chairman. The company is investingin Internet companies, ``principally those who sell product,which through increased brand exposure, would be beneficial toour TV programming sales.' ValueVision, which is about 40 percent-owned by NBC, a unitof General Electric Co., and GE Equity, reached about 31 millionhomes as of the end of October. The company is partnering with NBC Internet Inc., which wasformed by the combination of several NBC online businesses withXoom.com and Snap.com. The company began trading publicly as NBCifor the first time yesterday.
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