wordpress blog stats
Connect with us

Hi, what are you looking for?

HomeShop18 to acquire 74% stake in Shop CJ Network: report

Homeshop18 (TV18 Homeshopping Network) will be acquiring a 74% stake in Shop CJ Network, reports The Economic Times. Shop CJ Network is a 50:50 joint venture between private equity investor Providence Equity Partners and South Korean firm CJ O Shopping. Following the deal, Providence will completely exit the joint venture and CJ O Shopping’s stake will be reduced to 26%, according to the report. The value of the deal is expected to be about Rs 180-200 crore.

Shop CJ, which was formerly known as Star CJ, was first launched in March 2009, as an equal joint venture between Star India and CJ O Shopping, with both companies reportedly investing $55 million in the venture. It started off as a six hour slot on Star Utsav channel and later launched a 24-hour channel Star CJ Alive in 2010. Later, an online marketplace called StarCJ.com was also launched in February 2011. In June 2014, Star India exited the joint venture by selling its 50% stake to Providence for an undisclosed amount.

It’s worth noting that since its launch in 2009, Shop CJ and HomeShop18 had been competitors. In fact, CJ O Shopping had positioned the deal with Providence in 2014 as a growth opportunity for Star CJ Network to take on HomeShop18. Since then though, both companies have had to contend with rough times, and especially so since e-commerce picked up momentum in the country.

In November 2015, Homeshop18 withdrew its $75 million IPO application to list on the New York Stock Exchange, a few months after parent company Network18 was acquired by Reliance Industries Limited. Around the same time, Network18 had said that “Homeshop18 has strategically scaled down its digital home shopping business to leverage the potential in the TV home shopping segment, which it dominates with its innovative initiatives.”

Den Snapdeal TV Shop: Online marketplace Snapdeal and cable & broadband operator DEN Networks had launched a TV shopping channel called Den Snapdeal TV Shop in January 2015. A little over two years later, in June this year, both companies sold 100% stake in the TV shopping channel to Pimex Broadcast Private Limited.

Advertisement. Scroll to continue reading.

HomeShop18’s performance in Q1 FY18

Network18 said that growth of its broadcasting segment was partially offset by continued weakness in its TV shopping business, even though losses in the TV shopping business lowered. HomeShop18, the TV shopping business, continued to face challenges due to decline cash-on-delivery payments post demonetization, and “stiff competition from ecommerce”. The GST rollout, the company said, is positive for HomeShop18, since it will eliminate the issue of state entry taxes. “Management is keeping a tight leash on costs, and taking steps to revive the business.”

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.


Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.


This article addresses the legal and practical ambiguities in understanding the complex crypto ecosystem in India.


It is widely argued that the PDP Bill report seeks to discard the intermediary status of social media platforms but that may not be...


Looking at the definition of health data, it is difficult to verify whether health IDs are covered by the Bill.

You May Also Like


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ