EVINE Live Inc. is buying a block of 4.4 million shares of its common stock from Comcast Corp. unit NBCUniversal Media LLC for about $4.9 million, or $1.12 per share, in a private transaction.

The shares represent a stake of about 6.9% of the shares outstanding, the company said Jan. 31. EVINE Live will use cash on hand to buy back the shares and the transaction is expected to settle within two business days.

Craig-Hallum Capital Group LLC served as financial adviser to EVINE.