STAR and CJ Home Shopping, a Korean regional home shopping group, have announced the launch of a home shopping channel, through a 50:50 joint venture. The JV, called STAR CJ Network India, will see the launch and operation of a home shopping network across India. The name of the channel is yet to be decided.
The first stage of the deal will see the launch of a 24-hour home shopping channel later this year. This will be the second channel in the genre, the first being HomeShop18, which was launched a year ago.
& #BANNER1 & #Paul Aiello, CEO, STAR, in an official statement says, "India remains a fast growing market for STAR. The formation of this JV represents yet another step in our growth trajectory in this market. It is also a testament to our continued efforts in strengthening and widening our services across the country."
For the record, CJ Home Shopping is a subsidiary of the CJ Group, which has stakes in food and food service, bio and pharma, entertainment and media, and home shopping and logistics.