Press Release

STAR India sells entire stake in Star CJ to Providence Group

27 June 2014

Star HS, an affiliate of STAR India, has completed the sale of its 50 per cent stake in STAR CJ Network India, the home shopping joint venture with Korea’s CJ O Shopping Co.

P5 Asia Holding Investments (Mauritius), a group company of Providence Equity Partners, has acquired STAR’s 50 per cent stake in the venture.

Uday Shankar, CEO, STAR India said, “STAR CJ provides world class home shopping experiences to consumers in India and has been a valuable investment for us. We and CJ have enjoyed an excellent working relationship and we expect this to continue unaffected by the sale.”

Biswajit Subramanian, Managing Director, Providence Equity Advisors India added here, “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. Providence looks forward to working with the STAR CJ team and adding lasting value to the company in the years ahead.”

Kim Yun Koo, Executive Vice President, CJ O Shopping said, “STAR India has been a close and valued partner for CJ O Shopping in building STAR CJ into a premier home shopping platform in India. CJ O Shopping looks forward to accelerating STAR CJ’s growth and believes Providence will be a fantastic partner for the next chapter in this journey.”

STAR CJ Network India, formed in 2009 as a 50:50 partnership between STAR and CJ, is a part of CJ O Shopping Co of South Korea. STAR CJ operates a 24x7 home shopping channel, STAR CJ Alive, and provides a web-based portal www.starcj.com to third party sellers, who list their products for sale. STAR CJ will continue to use STAR’s brand for up to one year.

Source: Exchange4media.com

Related Article:

Star CJ, Providence: Life after Star India

Print
Show me everything from anytime
Press Release

Get set for a gastronomical trip with Vikas Khanna on 'Twist of Taste'

FOX International Channels vice president, marketing Debarpita Banerjee says, “Food is a popular subject, a popular topic, and we plan to maximise the topic’s already wise reach with the new season of Twist of Taste, which itself is a flagship show for FOX Traveller. The audiences have loved the concept and we are excited to partner with Vikas Khanna in the third season of the show. ‘Twist of Taste: Coastal Curries’ reiterates our promise to bring more exciting and quality local content to the I

Press Release

Race against time

Sanjay Gupta, chief operating officer (COO) of Star India said that October 2014 is a realistic deadline for BARC. But the issue of the guidelines was another problem altogether. “What an ideal measurement system ought to be – this subject has been in discussion in the country for more than three years. It began with the Amit Mitra committee report in 2010. To my mind, as a system and as an industry, we have chosen not to act on it. I do believe that the existing television system is not compreh

Press Release

Star India committed to investing over Rs. 1500 crore in the sport of Hockey over the next 8 years

Nitin Kukreja, Head of Sports Business, Star India, said, “Our aim is to transform the sporting landscape and imbibe a culture of multiple sports in India. Sports broadcasters in India have traditionally invested only in Cricket but shied away from committing such heavy investments in other games. We are putting money where our mouth is. We believe Hockey has potential for growth but needs certain key ingredients to come together. We believe that a vibrant local league, international events in I

1
422 423 424
628
Imagine more
Id: 5689