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Liberty Media to buy Provide Commerce

Liberty plans to buy the online marketplace for $477 million in an effort to bolster its e-commerce operations.

Liberty Media plans to buy online marketplace Provide Commerce for $477 million, the companies announced Monday. Provide, based in San Diego, operates several Web sites that market perishable goods, such as ProFlowers and Cherry Moon Farms.

The deal is designed to bolster Liberty's e-commerce efforts, which include its QVC home shopping network. The deal is expected to close in the second quarter of next year.