Press Release

Star India Exits Home Shopping Venture Star CJ

6 June 2014

Media and entertainment firm Star India on Thursday said that it has exited its equal partnership in the home shopping venture Star CJ Network by offloading its stake to Providence Equity Partners for an undisclosed amount.Formed in 2009, Star CJ Network is a 50:50 joint venture with Korea's CJ O Shopping - the world's second largest home shopping network.Star India held its stake in the portal through India-Star HS.Star CJ operates a 24x7 home shopping channel called 'Star CJ Alive' through www.starcj.com to third-party sellers, who list their products for sale, reaching out to over 50 million households and having added 5 million shoppers to its network within four-and-a-half years of its operation.Star CJ will continue to use Star's brand for up to one year.Providence Equity Partners is a leading private equity firm focused on media, communications, education and information investments. The firm manages $40 billion and has invested in over 140 companies globally since its inception in 1989.It is also a controlling shareholder in HSE24, a leading home shopping network in Germany."Providence is excited about partnering with CJ O Shopping, a global leader in TV home shopping. The significant TV home shopping market opportunity in India, Star CJ's strong management team and CJ's deep domain expertise, all make this a compelling opportunity for us.""We look forward to working with the Star CJ team and adding lasting value to the company in the years ahead," Providence India managing director Biswajit Subramanian said.

Source: Profit.ndtv.com

Show me everything from anytime

VIVO Pro Kabaddi Season 5 Sets INR 8 Crores in Prize Monies

The stakes for VIVO Pro Kabaddi Season 5 got even higher, with announcement of a consolidated sum of INR 8 crores as the coveted prize money for the season.

STAR SUVARNA HD LAUNCH

Star Suvarna brings the premium offering of its High Definition Channel; takes a big leap in the competition

Jai Kali Kolkattawali launches on Star Jalsha

This is a story of Abhaya, a docile homemaker from a traditional Bengali family, an icon who will rise to be an inspiration to women in Bengal.

Star India MD Sanjay Gupta addresses a keynote at CII Scorecard 2017

Sport in India is on the move today, but it needs to be a movement

1 2 3
415
Imagine more
Id: 5848