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Star-CJ to launch home shopping channel in 2nd half of 2009 - Printable Version

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Star-CJ to launch home shopping channel in 2nd half of 2009 - Sathish - 03-24-2009

MUMBAI: Finally, it's official! Star and Korea-based CJ Home Shopping Monday announced a 50:50 joint venture to launch and operate a home shopping network in India.

The Star-CJ home shopping channel will come up in the second half of this year.

Indiantelevision.com was the first to report that Star received the FIPB (foreign investment promotion board) nod to get foreign investments from CJ Home Shopping Co of Seoul to launch a home shopping channel. The joint venture company is called Star CJ Network India.

Commenting on the deal, Star CEO Paul Aiello said, "India remains a fast growing market for Star and the formation of this joint venture represents yet another step in our growth trajectory in this market. It is also testament to our continued efforts in strengthening and widening our services across the country."

Added CJ Home Shopping CEO Harri Lee, "With a population of 1.1 billion, India offers a blue ocean opportunity in home shopping. Working with leading media company Star and leveraging on the success CJ has had in markets such as Korea and China, we plan to offer a trendy and stylish home shopping television experience."