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Dec. 5, 2005 / 10:01 AM

Liberty Media buying Provide Commerce

ENGLEWOOD, Colo., Dec. 5 (UPI) -- Colorado's Liberty Media Corp. said Monday it is buying Provide Commerce Inc. of San Diego for $477 million in cash.

Provide Commerce is an "an e-commerce marketplace" of Web sites for perishable goods, Liberty said. The definitive agreement is set to close in the second half of next year.

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Jovian Holdings LLC, which owns about 29 percent of Provide Commerce, has agreed to support the acquisition.

"Provide Commerce is a market leader in online perishable goods and through its advanced supply chain and superior execution, has built scale and a strong competitive position," said Liberty Chief Executive Officer John C. Malone.

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