Dealmakers were up early today as Liberty Interactive Corporation (NASDAQ: QVCA), the TV retailer, executed an acquisition of the remaining 62% of stake they had not owned of HSN, Inc. (NASDAQ: HSNI). Until now, Liberty owned 38% of HSN and have finished off the takeover with a $2.6 billion dollar buyout of the St. Petersburg-based company.

While the move awaits regulatory approval by the federal government regarding Antitrust Laws, approval from stockholders is not required. An estimated 23 million customers are reached between QVC and HSN worldwide, shipping over 320 million packages per year and the two have a video reach of over 360 million homes combined.

The acquisition is expected to be finalized in the fourth quarter and once completed, Liberty will be no. 3 in North America in e-commerce (behind only Amazon.com, Inc. (NASDAQ: AMZN) and Wal-Mart Stores Inc (NYSE: WMT)). “The addition of HSN will enhance QVC’s position as the leading global video ecommerce retailer.” Said Liberty Interactive’s President and CEO, George Maffei. “The value of combined QVC, HSN and Zulily will be further highlighted when later this year QVC Group becomes an asset-backed stock as part of the previously announced split-off of Liberty ventures.”

Over a 3-5 year span, the full acquisition is expected to save $75-$110 million (falling in line with the Citi estimates of $100 million in savings. Liberty Interactive has issued $53.4 million of QVC Series A Common Stock to HSN Shareholders, effectively granting them at $40.36 per HSNi share. As of mid-day today, HSNi was trading at $39.92 per share which was a jump of $8.62 per share, or 27%.

HSNi’s chairman of the board, Arthur C Martinez said of the move, ““Joining the QVC Group will give us instant access to global consumer markets, a leadership team with deep expertise and a global perspective, and the opportunity to further strengthen our content-based brand portfolios in a changing retail landscape.”

HSNi also owns Cornerstone, which includes home and apparel brands such as Frontgate, Garnet Hill, Ballard Designs, Grandin Road and Improvements.