Exhibit 99

ValueVision Q4 2010 Net Sales Rose 15.2% to $178.8 million;

Adjusted EBITDA Rose to $8.0 million vs. a Loss of $1.3 million

2010 Net Sales Rose 6.5% to $562.3 million and Adjusted EBITDA
Improved to a Positive $2.4 million vs. a Loss of $19.4 million

Q4 ’10 Progress Across Key Operating Metrics:

	•		Net Sales Increased 15.2% to $178.8M
	•		Adjusted EBITDA of $8.0M vs. ($1.3M)
	•		Net Shipped Units Rose 4.3%
	•		Gross Margin Rose 90 bps to 33.3%
	•		New Customers Rose 10.9%; Active Customers Rose 12.0% on 12 month rolling basis
	•		Internet Sales Penetration Rose 510 bps to 44.0%

MINNEAPOLIS, MN, March 17, 2011 — ValueVision Media, Inc. (NASDAQ: VVTV), a premium interactive retailer via TV, Internet and mobile, operating under the “ShopNBC” brand, today announced improved operating results for its fiscal fourth quarter (Q4 2010) and year ended January 29, 2011 (FY 2010). ValueVision will host a conference call and webcast to review its results at 11:00 a.m. ET today, details below.

SUMMARY RESULTS AND KEY OPERATING METRICS
($ Millions, except average price points)

		Three months ended												Twelve months ended
		1/29/2011				1/30/2010				Change				1/29/2011				1/30/2010				Change
		Q4 ‘10				Q4 ‘09								FY 2010				FY 2009
Net Sales		$	178.8			$	155.3				15.2	%		$	562.3			$	527.9				6.5	%
EBITDA, as adjusted		$	8.0			$	(1.3	)			+ $9.3			$	2.4			$	(19.4	)			+ $21.8
Net Loss		$	(1.4	)		$	(8.8	)			+ $7.4			$	(25.9	)		$	(42.0	)			+ $16.1
Homes (Average 000s)			77,498				74,701				3.7	%			76,437				73,576				3.9	%
Net Shipped Units (000s)			1,585				1,519				4.3	%			5,175				4,537				14.1	%
Average Price Point		$	105			$	96				8.9	%		$	101			$	108				-6.5	%
Return Rate %			18.7	%			19.0	%		-30 bps					19.8	%			21.0	%		-120 bps
Gross Margin %			33.3	%			32.4	%		90 bps					35.5	%			32.9	%		260 bps
Internet Net Sales %			44.0	%			38.9	%		510 bps					41.2	%			33.7	%		750 bps
New Customers - 12 month rolling			N/A				N/A								580,117				523,314				10.9	%
Active Customers - 12 month rolling			N/A				N/A								1,144,028				1,021,725				12.0	%

“Continued merchandising improvements and operating discipline yielded another quarter of double digit sales gains and gross margin improvement, with an over $9 million improvement in Adjusted EBITDA in Q4 2010 versus last year,” said Keith Stewart, CEO of ValueVision Media. “Our full year performance highlights progress in each of our key operating metrics, including new and active customers, Internet sales penetration, gross margin, net units shipped and a strategic reduction in average price point. These improvements yielded a 6.5% gain in net sales and improved Adjusted

EBITDA by $21.8 million to a positive $2.4 million and highlight growing consumer acceptance of the value and convenience of our interactive shopping offerings.”

Continued Stewart, “Having markedly improved the business over the past two years under a new management team and committed employee base, we are now turning our full attention to driving top-line growth through a more diversified base of merchandise categories and broader product selection. While we believe in the growth potential of the business, we do expect some quarterly variability in our operating performance as we diversify our merchandise mix and test and launch new products, as well as from seasonal factors.”

Sales by Product Category
		Q4 ’10				Q4 ’09				2010				2009
Jewelry & Watches			45	%			51	%			52	%			55	%
Fashion & Accessories			6	%			8	%			6	%			7	%
Health & Beauty (and Fitness)			10	%			7	%			10	%			7	%
Home & Electronics			39	%			34	%			32	%			31	%
			100	%			100	%			100	%			100	%

Bob Ayd, President, added: “Areas of opportunity for 2011 include our Jewelry & Watches and Health & Beauty businesses where new product assortments have been achieving strong customer response while generating attractive margins. Home & Electronics should play an important role in revenue and new customer growth as we expand merchandise offerings in both hard and soft home categories. Fashion remains a small but attractive business that we expect will scale over time. Importantly, our growth objectives are now being supported by a stronger working capital position that resulted from the equity and debt financings completed in Q4. This incremental capital gives us greater flexibility in our merchandising strategies as well as in managing inventory and customer payment terms to maximize revenue and profitability.”

Q4 Highlights

ValueVision’s Q4 net sales improvement reflected strong performances in Home & Electronics as well as Health & Beauty, as the company allocated more programming time to these categories. Home & Electronics sales growth was led by strong holiday demand for large screen TVs and GPS devices that carry higher average sales prices and lower gross profit margins, but generated strong sales and gross margin dollars on a per minute basis. Return rates continued to decrease in the quarter on a year-over-year and sequential basis, reflecting the benefit of improved order fulfillment processes, continued enhancements in customer service, and the benefit of lower average price points.

Customer Activity

New and active customer trends improved 10.9% and 12.0%, respectively, in the 12 months ended January 29, 2011, versus the prior year, outpacing the 3.9% growth in average homes to 76.4 million. Customer trends showed modest improvements on a sequential 12-month basis for the period, as the company focused airtime on proven items that resonated strongly with customers in Q4 2010.

Liquidity and Capital Resources

ValueVision made substantial progress in expanding its working capital base during Q4 2010, ending the year with working capital of $81.6 million as compared to $37.1 million in Q3 2010 and $53.4 million at year-end 2009. The company secured $25 million via a 5-year term loan in November 2010 and raised net proceeds of $17 million in a December stock offering.

Conference Call / Webcast Information:

The conference call is today, Thursday, March 17 at 11:00 a.m. ET.

Webcast/Web Replay:		https://e-meetings.verizonbusiness.com/emeet/join/index.jsp
Conference #:		1548956 / Passcode: SHOPNBC; archived for 30 days
Telephone:		800-988-9672 / Passcode: SHOPNBC; keypad: 7467622
Telephone Replay:		800-262-4859 / Passcode: 81810; available for 30 days

Adjusted EBITDA

EBITDA represents net loss for the respective periods excluding depreciation and amortization expense, interest income (expense) and income taxes. The company defines Adjusted EBITDA as EBITDA excluding non-operating gains (losses); non-cash impairment charges and write-downs; restructuring, and chief executive officer transition costs; and non-cash share-based compensation expense. The company has included the term “Adjusted EBITDA” in our EBITDA reconciliation in order to adequately assess the operating performance of our “core” television and internet businesses and in order to maintain comparability to our analyst’s coverage and financial guidance, when given. Management believes that Adjusted EBITDA allows investors to make a more meaningful comparison between our core business operating results over different periods of time with those of other similar companies. In addition, management uses Adjusted EBITDA as a metric measure to evaluate operating performance under its management and executive incentive compensation programs. Adjusted EBITDA should not be construed as an alternative to operating income (loss) or to cash flows from operating activities as determined in accordance with generally accepted accounting principles and should not be construed as a measure of liquidity. Adjusted EBITDA may not be comparable to similarly entitled measures reported by other companies.

Forward-Looking Information

This release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and accordingly are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained herein due to various important factors, including (but not limited to): consumer spending and debt levels; interest rates; competitive pressures on sales, pricing and gross profit margins; the level of cable and satellite distribution for the company’s programming and the fees associated therewith; the success of the company’s e-commerce and new sales initiatives; the success of its strategic alliances and relationships; the ability of the company to manage its operating expenses successfully; the ability of the Company to establish and maintain acceptable commercial terms with third party vendors and other third parties with whom the Company has contractual relationships; changes in governmental or regulatory requirements; litigation or governmental proceedings affecting the company’s operations; and the ability of the company to obtain and retain key executives and employees. More detailed information about those factors is set forth in the company’s filings with the Securities and Exchange Commission, including the company’s annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. The company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

About ValueVision Media / ShopNBC

ValueVision Media, Inc. (NASDAQ: VVTV) is a premium interactive retailer bringing high-quality merchandise to customers via TV, Internet and mobile, under the “ShopNBC” brand. At the end of fiscal year 2010, the ShopNBC television network reached over 78 million homes via cable and satellite and is streamed live at www.ShopNBC.tv. Over 1.1 million active customers have utilized ShopNBC in the categories of Home & Electronics, Health & Beauty, Fashion & Accessories, and Jewelry & Watches, yielding revenues in excess of $560 million (over $230 million or 41.2% of which are Internet-based). Via the Company’s “ShopNBC Anywhere” initiative, customers can interact and shop via TV, phone, mobile devices and online at www.ShopNBC.com and via Facebook, Twitter and YouTube.

For more information, please visit www.ShopNBC.com.

Contact:
Investor / Media Relations:		Investors:
Anthony Giombetti		Norberto Aja, David Collins
ValueVision Media, Inc.		Jaffoni & Collins
agiombetti@shopnbc.com		vvtv@jcir.com
(612) 308-1190		(212) 835-8500

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VALUEVISION MEDIA, INC.
AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands except share and per share data)

		January 29,				January 30,
		2011				2010
		(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents		$	46,471			$	17,000
Restricted cash and investments			4,961				5,060
Accounts receivable, net			90,183				68,891
Inventories			39,800				44,077
Prepaid expenses and other			3,942				4,333
Total current assets			185,357				139,361
Property and equipment, net			25,775				28,342
FCC broadcasting license			23,111				23,111
NBC Trademark License Agreement, net			928				4,154
Other Assets			3,188				1,246
		$	238,359			$	196,214
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	58,310			$	58,777
Accrued liabilities			43,405				26,487
Current portion of accrued dividends			1,355				—
Deferred revenue			728				728
Total current liabilities			103,798				85,992
Deferred revenue			425				1,153
Long Term Payable			4,894				4,841
Term Loan			25,000				—
Accrued Dividends — Series B Preferred Stock			6,491				4,681
Series B Mandatorily Redeemable Preferred Stock $.01 par value, 4,929,266 shares authorized; 4,929,266 shares issued and outstanding			14,599				11,243
Total liabilities			155,207				107,910
Commitments and Contingencies
Shareholders’ equity:
Common stock, $.01 par value, 100,000,000 shares authorized; 37,781,688 and 32,672,735 shares issued and outstanding			378				327
Warrants to purchase 6,014,744 shares of common stock			602				637
Additional paid-in capital			337,421				316,721
Accumulated deficit			(255,249	)			(229,381	)
Total shareholders’ equity			83,152				88,304
		$	238,359			$	196,214

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VALUEVISION MEDIA, INC.
AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share data)
(Unaudited)

		Three Months Ended								Twelve Months Ended
		January 29,				January 30,				January 29,				January 30,
		2011				2010				2011				2010
Net sales			178,836			$	155,285			$	562,273			$	527,873
Cost of sales			119,250				104,929				362,744				354,101
Gross profit			59,586				50,356				199,529				173,772
Margin %			33.3	%			32.4	%			35.5	%			32.9	%
Operating expense:
Distribution and selling			47,682				47,117				181,536				178,015
General and administrative			5,164				5,173				19,171				18,373
Depreciation and amortization			2,943				3,597				13,158				14,320
Restructuring costs			292				1,588				1,130				2,303
CEO transition costs			—				65				—				1,932
Total operating expense			56,081				57,540				214,995				214,943
Operating income (loss)			3,505				(7,184	)			(15,466	)			(41,171	)
Other income (expense):
Interest income			—				17				51				382
Interest expense			(3,646	)			(1,600	)			(9,795	)			(4,928	)
Debt extinguishment			(1,235	)			—				(1,235	)			—
Gain on sale of investments			—				—				—				3,628
Total other income (expense)			(4,881	)			(1,583	)			(10,979	)			(918	)
Loss before income taxes			(1,376	)			(8,767	)			(26,445	)			(42,089	)
Income tax (provision) benefit			(14	)			(66	)			577				91
Net loss			(1,390	)			(8,833	)			(25,868	)			(41,998	)
Excess of preferred stock carrying value over redemption value			—				—				—				27,362
Accretion of redeemable Series A preferred stock			—				—				—				(62	)
Net loss available to common shareholders		$	(1,390	)		$	(8,833	)		$	(25,868	)		$	(14,698	)
Net loss per common share		$	(0.04	)		$	(0.27	)		$	(0.78	)		$	(0.45	)
Net loss per common share —assuming dilution		$	(0.04	)		$	(0.27	)		$	(0.78	)		$	(0.45	)
Weighted average number of common shares outstanding:
Basic			35,140,671				32,442,541				33,326,200				32,537,849
Diluted			35,140,671				32,442,541				33,326,200				32,537,849

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VALUEVISION MEDIA, INC.
AND SUBSIDIARIES

Reconciliation of Adjusted EBITDA to Net Loss:

		Three Months Ended								Twelve Months Ended
		January 29,				January 30,				January 29,				January 30,
		2011				2010				2011				2010
Adjusted EBITDA (000’s)		$	8,046			$	(1,259	)		$	2,351			$	(19,411	)
Less:
Non-operating gain on sale of investments			—				—				—				3,628
Debt extinguishment			(1,235	)			—				(1,235	)			—
Restructuring costs			(292	)			(1,588	)			(1,130	)			(2,303	)
CEO transition costs			—				(65	)			—				(1,932	)
Non-cash share-based compensation			(1,236	)			(675	)			(3,350	)			(3,205	)
EBITDA (as defined) (a)			5,283				(3,587	)			(3,364	)			(23,223	)
A reconciliation of EBITDA to net loss is as follows:
EBITDA, as defined			5,283				(3,587	)			(3,364	)			(23,223	)
Adjustments:
Depreciation and amortization			(3,013	)			(3,597	)			(13,337	)			(14,320	)
Interest income			—				17				51				382
Interest expense			(3,646	)			(1,600	)			(9,795	)			(4,928	)
Income taxes			(14	)			(66	)			577				91
Net loss		$	(1,390	)		$	(8,833	)		$	(25,868	)		$	(41,998	)

     Management has included the term Adjusted EBITDA in its EBITDA reconciliation in order to adequately assess the operating performance of the Company’s “core” television and Internet businesses and in order to maintain comparability to its analyst’s coverage and financial guidance when given. Management believes that Adjusted EBITDA allows investors to make a more meaningful comparison between our core business operating results over different periods of time with those of other similar companies. In addition, management uses Adjusted EBITDA as a metric measure to evaluate operating performance under its management and executive incentive compensation programs. Adjusted EBITDA should not be construed as an alternative to operating income (loss) or to cash flows from operating activities as determined in accordance with GAAP and should not be construed as a measure of liquidity. Adjusted EBITDA may not be comparable to similarly entitled measures reported by other companies.

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