HSN Owner Buys Catalog Company

New York City, HSN and Ticketmaster owner IAC/InterActiveCorp has agreed to buy Cornerstone Brands for $720 million from a group of private investors that include Madison Dearborn Partners and JP Morgan Partners. The deal is expected to close in the second quarter.

West Chester, Ohio-based Cornerstone is a $720 million portfolio of print catalogs and e-retail sites for home goods and apparel. Its brands include Frontgate, Ballard Designs, Garnet Hill, Smith & Noble, The Territory Ahead and TravelSmith.