Creating a mega-entity in the world of television shopping and ecommerce in general, QVC plans to merge with Home Shopping Network in a deal valued at $2.1 billion. QVC’s parent company, Liberty Interactive Corp., will buy the 62% of HSN Inc. that it does not already own.

The New York Times reported that the two businesses would combine jewelry, fashion, electronics and other products on their broadcast channels, online and in stores. They would remain standalone brands under the new QVC Group umbrella after the merger. The combined companies have about $14 billion in annual revenue.

“The addition of HSN will enhance QVC’s position as the leading global video ecommerce retailer,” said Greg Maffei, Liberty Interactive President and CEO in a press release. “Every year they together…