EXHIBIT 99


                                            VALUEVISION MEDIA
                                            6740 Shady Oak Road
                                            Minneapolis, MN 55344-3433
[VALUEVISION. LOGO]                         Contact: Anthony Giombetti
                                            Director, Corporate Communications
                                            952-943-6017, agiombetti@shopnbc.com



For Immediate Release

                VALUEVISION MEDIA CEO MCCAFFERY BEGINS TRANSITION

MINNEAPOLIS -- MAY 20, 2003 -- ValueVision Media (Nasdaq: VVTV) announced today
that its Chairman and CEO Gene McCaffery will be part of a transition process to
determine his successor as Chief Executive Officer. The Company has engaged the
search firm Korn/Ferry International to assist in that process. McCaffery and
the Board of Directors have amicably agreed upon this approach and are committed
to a process that is orderly and in the Company's best interests. McCaffery will
remain as Chairman and CEO during this transition period and will serve on the
search committee to assist in the selection of a candidate.

"I have enjoyed my time at ValueVision," said McCaffery. "Since 1998, we have
seen our program distribution increase three fold and our revenues nearly
quadruple. For some time, I have considered bringing on board a new CEO to build
upon what was a start-up just a few years ago. I feel confident that ValueVision
has a bright future and that a fresh look at the company will provide the
impetus for continued growth and its resulting profitability. As for me, I look
forward to pursuing new challenges and opportunities."

"As a strategic and financial partner of ValueVision Media, we appreciate Gene's
leadership and success in growing the business into the third-largest home
shopping network," said Bob Wright, Vice Chairman of General Electric and
Chairman and Chief Executive Officer of NBC. "We look forward to working with
Gene during this transition period and building on his accomplishments."







The Board of Directors and McCaffery are in discussions to finalize the terms of
this transition as well as address any relationship that would be deemed
beneficial going forward.

Added McCaffery, "I have been part of the effort to build ValueVision to where
it is today, and remain committed to assist in any way that we view as helpful
going forward."


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 ARE ACCORDINGLY 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
DISTRIBUTION FOR THE COMPANY'S PROGRAMMING AND THE FEES ASSOCIATED THEREWITH;
THE SUCCESS OF THE COMPANY'S E-COMMERCE INITIATIVES; THE SUCCESS OF ITS
STRATEGIC ALLIANCES AND RELATIONSHIPS; THE ABILITY OF THE COMPANY TO MANAGE ITS
OPERATING EXPENSES SUCCESSFULLY; RISKS ASSOCIATED WITH ACQUISITIONS; 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.

ValueVision Media operates in the converged world of television, the Internet,
and e-commerce. The live home shopping industry, the majority of ValueVision's
business, is $7 billion and growing at a double digit rate annually while the
attendant e-commerce space is many times that size and also growing
substantially. The Company owns and operates the nation's third largest home
shopping network, ShopNBC, with fiscal 2002 sales of $555 million. At the close
of fiscal 2002, ShopNBC was broadcast into approximately 55 million



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cable and satellite homes. The Company also operates ShopNBC.com, which
contributed $94 million in sales in fiscal 2002. In addition, the Company
operates wholly owned subsidiary FanBuzz, a leading provider of e-commerce
solutions to sports, entertainment, and media brands, such as the National
Hockey League and The Weather Channel. GE Equity and NBC own approximately 40%
of ValueVision Media. For more information, please visit the Company's website
at www.valuevisionmedia.com

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