SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* COMCAST CORP (Last) (First) (Middle) ONE COMCAST CENTER (Street) PHILADELPHIA PA 19103 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 01/28/2011	3. Issuer Name and Ticker or Trading Symbol VALUEVISION MEDIA INC [ VVTV ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	6,452,194	I	By Subsidiary(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance Distribution Warrant	11/11/2006	11/11/2011	Common Stock	7,372	$15.74	I	By Subsidiary(2)
Performance Distribution Warrant	11/11/2007	11/11/2012	Common Stock	7,372	$15.74	I	By Subsidiary(2)

1. Name and Address of Reporting Person* COMCAST CORP (Last) (First) (Middle) ONE COMCAST CENTER (Street) PHILADELPHIA PA 19103 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* NBCUniversal, LLC (Last) (First) (Middle) 30 ROCKEFELLER PLAZA (Street) NEW YORK NY 10112 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. NBCUniversal Media, LLC owns directly 6,452,194 shares of common stock of ValueVision Media Inc. NBCUniversal Media, LLC is a wholly owned subsidiary of NBCUniversal, LLC, which is owned 51% by Comcast Corporation (through wholly owned subsidiaries). The shares were acquired as part of Comcast's acquisition of control of the business of NBCUniversal Media, LLC (f/k/a NBC Universal, Inc.).

2. NBCUniversal Media, LLC owns directly 7,372 warrants exchangeable for shares of common stock of ValueVision Media Inc.

Remarks:

	/s/ Arthur R. Block, Senior Vice President, General Counsel and Secretary, Comcast Corporation	02/07/2011
	/s/ Arthur R. Block, Senior Vice President, NBCUniversal, LLC	02/07/2011
	** Signature of Reporting Person	Date
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