Network 18 Media & Investment’s subsidiary company -TV18 Home Shopping Network (Homeshop18) and Shop CJ Network (Shop CJ) have received the Board’s approval for entering into a definitive agreement to combine the businesses of both entities. The transaction is aimed at uniting two of India's top home-shopping players, to create the largest home-shopping platform in the country. The resultant benefits of scale shall better the growth prospects for the combined entity, allowing it to improve its standing in the TV home-shopping landscape and compete better with the challenge from e-commerce players.
This combination shall be effected by way of a share-swap. The shareholders of Shop CJ shall be issued 25% equity in HomeShop18, making Shop CJ a subsidiary of HomeShop18. Post the transaction, HomeShop18 shall cease to be a subsidiary of Network18 Media & Investments; however, Network 18 shall continue to be the largest shareholder in the combined entity.
Network18 Media and Investments is a media and entertainment company with interests in television, internet, filmed entertainment, digital business, magazines, mobile content and allied businesses.
