Shop at Home to Weigh Strategic Alternatives

Shop at Home Inc., the No. 3 U.S. home shopping retailer, said it hired three investment banks to explore strategic alternatives, including the possible sale of television stations and a “significant” stake in the company. Yagemann Advisors, Banc of America Securities and Media Venture Partners were asked to find alternatives aimed at increasing shareholder value. Shop at Home’s stations are in San Francisco; Boston; Houston; Cleveland; Raleigh, N.C.; and Bridgeport, Conn., which serves the New York market. The move was prompted by recent changes to Federal Communications Commission rules relaxing some ownership restrictions on TV stations. BancBoston Robertson Stephens analysts said Shop at Home may emerge as one of the biggest winners from the FCC’s decision to permit “duopoly” in the nation’s largest markets. Shares of Nashville-based Shop at Home rose $1.28 to close at $8.97 on Nasdaq.