ValueVision Media Inc. announced the appointment of Robert S. Pick, Senior Vice President of Corporate Development of Comcast Corporation to its Board of Directors, effective as of May 7, 2013. Mr. Pick assumes the Board vacancy created by the resignation of Catherine Dunleavy, following the expansion of her responsibilities as EVP and CFO of Comcast's NBC Universal Cable Entertainment Group. Mr. Pick currently serves as Senior Vice President of Corporate Development of Comcast Corporation, overseeing the company's corporate development and merger and acquisition activities. He joined Comcast in 1989 and has played an integral role in shaping Comcast's strategic vision and its implementation.

ValueVision Media Inc. announced that it has increased the size of its credit facility with PNC Bank from $40 million to $50 million and has extended the facility's maturity to five years through May 1, 2018. The existing three-year facility was scheduled to mature February 9, 2015. PNC, N.A. is a subsidiary of The PNC Financial Services Group. The expanded facility carries the same interest rate of LIBOR plus 3%. The credit facility is secured by ValueVision's and its subsidiaries' accounts receivable, equipment, inventory, and certain real estate as well as other assets. The facility will be used to finance inventory and other working capital needs as well as capital expenditures designed to support the continued growth of the business.

ValueVision Media Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended February 2, 2013. For the quarter, the company reported net sales of $177,500,000 against $147,537,000 a year ago. Operating loss was $11,019,000 against $7,300,000 a year ago. Loss before income taxes was $11,418,000 against $8,296,000 a year ago. Net loss was $11,418,000 or $0.23 per basic and diluted share against $8,328,000 or $0.17 per basic and diluted share a year ago. Adjusted EBITDA was $4,194,000 against $2,681,000 a year ago. EBITDA was $7,771,000 against $3,951,000 a year ago. For the full year, the company reported net sales of $586,820,000 against $558,394,000 a year ago. Operating loss was $23,297,000 against $16,838,000 a year ago. Loss before income taxes was $27,656,000 against $47,980,000 a year ago. Net loss was $27,676,000 or $0.57 per basic and diluted share against $48,064,000 or $1.03 per basic and diluted share a year ago. Adjusted EBITDA was $4,494,000 against $996,000 a year ago. EBITDA was $10,274,000 against $29,690,000 a year ago.